Microchip Lifts Q2 EPS View - Quick Facts

(RTTNews) - Microchip Technology Inc. (MCHP) Tuesday said it now expects second-quarter net income of $129.2 million to $143.0 million, or 60 cents to 66 cents per share.

The previous guidance for non-GAAP earning per share was between 58 and 66 cents per share.

On average, 13 analysts polled by Thomson Reuters expect earnings of 62 cents per share for the quarter. Analysts' estimates typically exclude special items.

Net sales are estimated to be in the range of $545 million to $563 million with a mid-point of $554 million. Microchip previously provided guidance for consolidated non-GAAP net sales to be between $532 million and $569 million with a mid- point of $550.5 million. Analysts look for revenues of $550.80 million.

Microchip said its core business is tracking towards its original guidance while Micrel sales for the partial quarter are ahead of its original guidance.