Microchip Technology Inc. Profit Declines 5% In Q2

(RTTNews) - Microchip Technology Inc. (MCHP) announced earnings for second quarter that decreased from last year.

The company said its bottom line fell to $142.91 million, or $0.66 per share. This was lower than $150.24 million, or $0.67 per share, in last year's second quarter.

Analysts had expected the company to earn $0.63 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 0.9% to $541.39 million. This was down from $546.24 million last year.

Microchip Technology Inc. earnings at a glance:

-Earnings (Q2): $142.91 Mln. vs. $150.24 Mln. last year. -Earnings Decline (Y-o-Y): -4.9% -EPS (Q2): $0.66 vs. $0.67 last year. -EPS Decline (Y-o-Y): -1.5% -Analysts Estimate: $0.63 -Revenue (Q2): $541.39 Mln vs. $546.24 Mln last year. -Revenue Change (Y-o-Y): -0.9%

-Guidance: Next quarter EPS guidance: $0.58 - $0.64 Next quarter revenue guidance: $539.7 - $563.5 Mln