Microchip Shares Gain 3% Following Q4 Beat and Raise
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Microchip Technology Announces Record Financial Results for Fourth Quarter and Fiscal Year 2022
May 9, 2022 4:15 PM EDTFor the quarter ended March 31, 2022
Record net sales of $1.844 billion, up 4.9% sequentially and up 25.7% from the year ago quarter. The midpoint of our guidance provided on February 3, 2022 was net sales of $1.819 billion.On a GAAP basis: record gross margin of 66.2%; record operating income of $549.5 million and 29.8% of net sales; net income of $437.9 million; and EPS of $0.77 per diluted share. Our guidance provided on February 3, 2022 was for GAAP EPS of $0.66 to $0.68 per diluted share.... More