Microchip Technology Inc. Q4 adjusted earnings Beat Estimates

(RTTNews) - Microchip Technology Inc. (MCHP) revealed earnings for its fourth quarter that increased from the same period last year.

The company's earnings totaled $146.7 million, or $0.58 per share. This compares with $136.9 million, or $0.57 per share, in last year's fourth quarter.

Excluding items, Microchip Technology Inc. reported adjusted earnings of $351.3 million or $1.40 per share for the period.

Analysts had expected the company to earn $1.34 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.1% to $1.00 billion from $0.90 billion last year.

Microchip Technology Inc. earnings at a glance:

-Earnings (Q4): $351.3 Mln. vs. $276.9 Mln. last year. -EPS (Q4): $1.40 vs. $1.16 last year. -Analysts Estimate: $1.34 -Revenue (Q4): $1.00 Bln vs. $0.90 Bln last year.