Microchip Technology Posts Q2 Profit - Quick Facts

(RTTNews) - Microchip Technology Inc. (MCHP) Wednesday reported second-quarter profit of $99.81 million or $0.46 per share, compared to a loss of $21.18 million or $0.11 per share in the same period last year.

Adjusted earnings for the quarter was $136.4 million or $0.63 per share. On average, 13 analysts polled by Thomson Reuters expected the company to earn $0.60 per share for the quarter. Analysts' estimates typically exclude special items.

Sales decreased to $492.7 million from $383.30 million last year. Analysts expected sales of $481.50 million.

Looking ahead to the third quarter of 2014, the company has forecast earnings in the order of $0.40 to $0.46 per share, with adjusted earnings ranging between $0.57 and $0.63 per share.

Sales are expected to be in the range of $463.1 million to $492.7 million. Analysts currently expect the company to earn $0.59 per share on revenues of $476.91 million.