Microchip Q3 Results Top Estimate; Q4 Guidance Strong

(RTTNews) - Semiconductor company Microchip Technology Inc (MCHP) on Thursday reported third-quarter net earnings of $86 million or $0.39 per share compared with $105.4 million or $0.48 per share last year.

Excluding items, adjusted earnings for the quarter were $0.64 per share compared with $0.61 per share a year ago.

Revenues for the quarter were $528.7 million compared with $482.4 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.62 per share on revenues of $524.8 million for the quarter. Analysts' estimates typically exclude special items.

For the fourth quarter, the company expects adjusted earnings of $0.65 to $0.67 per share on sales of $537.2 million to $547.9 million. Analysts expect earnings of $0.65 per share on revenues of $539.8 million.

The company has declared a quarterly cash dividend of 35.7 cents per share.