Microchip Technology Reports Q2 Non GAAP EPS Of $0.67 - Quick Facts

(RTTNews) - Microchip Technology Incorporated (MCHP), a leading provider of microcontroller, mixed signal, analog and Flash-IP solutions, reported second-quarter net income attributable to company of $93.64 million or $0.42 per share, compared to $99.81 million or $0.46 per share, last year. Non-GAAP net income attributable to Microchip was $150.24 million or $0.67 per share, for the quarter.

On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.67 for the quarter. Analysts' estimates typically exclude special items.

Net sales were $546.24 million compared to $492.67 million, a year ago. Analysts expected revenue of $548.60 million for the quarter.

The company expects its third-quarter net sales in the range of $500.9 to $528.2 million. Non-GAAP net sales are expected to be in the range of $508.0 to $535.3 million. Earnings per share is expected to be in the range of $0.29 to $0.33. Adjusted earnings per share is expected to be in the range of $0.59 to $0.64. Analysts expect the company to report third-quarter earnings per share of $0.62 on revenue of $525.40 million.