Microchip Technology Inc. Q2 adjusted earnings Beat Estimates

(RTTNews) - Microchip Technology Inc. (MCHP) released a profit for its second quarter that rose from the same period last year.

The company's bottom line came in at $242.0 million, or $0.43 per share. This compares with $73.6 million, or $0.14 per share, in last year's second quarter.

Excluding items, Microchip Technology Inc. reported adjusted earnings of $605.6 million or $1.07 per share for the period.

Analysts had expected the company to earn $1.06 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 26.0% to $1.65 billion from $1.31 billion last year.

Microchip Technology Inc. earnings at a glance:

-Earnings (Q2): $605.6 Mln. vs. $416.4 Mln. last year. -EPS (Q2): $1.07 vs. $0.78 last year. -Analysts Estimate: $1.06 -Revenue (Q2): $1.65 Bln vs. $1.31 Bln last year.

-Guidance: Next quarter EPS guidance: $0.58 to $0.60 Next quarter revenue guidance: $1.716 to $1.782 Bln Full year EPS guidance: $1.14 to $1.20