Microchip Updates Q4 Guidance Ranges - Quick Facts

(RTTNews) - Microchip Technology Incorporated (MCHP) narrowed the range of its prior guidance for net sales and non-GAAP earnings per share for fourth quarter of 2017. Microchip now expects non-GAAP earnings per share to be between $1.02 and $1.10. The previous guidance for non-GAAP earning per share was between $1.01 and $1.11 per hare.

Microchip now expects consolidated net sales to be down 0.5% to up 2.5% with a mid-point unchanged at 1%. Microchip previously provided guidance for consolidated net sales to be down 1% to up 3% with a mid-point of up 1%.

"Our business for the first eight weeks of the March 2017 quarter is tracking well towards our February 7, 2017 guidance. We are narrowing the range of our revenue and non-GAAP earnings per share guidance, while keeping the midpoint of the guidance unchanged," said Steve Sanghi, Microchip's CEO.