Microchip Technology Q3 Profit Soars - Quick Facts

(RTTNews) - Microchip Technology Inc. (MCHP) Thursday reported third-quarter profit of $105.4 million or $0.48 per share, up from $10.2 million or $0.05 per share in the same period last year.

Adjusted earnings for the quarter were $132.9 million or $0.61 per share. On average, 15 analysts polled by Thomson Reuters expected the company to earn $0.60 per share for the quarter. Analysts' estimates typically exclude special items.

Sales increased 15.9 percent to $482.4 million from $416.0 million last year. Analysts expected sales of $479.27 million.

Looking ahead to the fiscal year 2014, the company currently projects earnings in the range of $0.43 to $0.47 per share, with adjusted earnings ranging between $0.59 to $0.63 per share.

Sales are expected to be in a range of $482.4 million to $496.8 million. Analysts currently expect the company to report full-year earnings of $2.42 per share on revenues of $1.92 billion.