Microchip Technology Inc. Reveals 57% Advance In Q2 Earnings

(RTTNews) - Microchip Technology Inc. (MCHP) reported a profit for its second quarter that advanced compared to the same period last year.

The company said its bottom line rose to $344.1 million, or $1.41 per share. This was up from $219.61 million, or $0.94 per share, in last year's second quarter.

Analysts had expected the company to earn $1.35 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 16.1% to $1.01 billion. This was up from $0.87 billion last year.

Microchip Technology Inc. earnings at a glance:

-Earnings (Q2): $344.1 Mln. vs. $219.61 Mln. last year. -Earnings Growth (Y-o-Y): 56.7% -EPS (Q2): $1.41 vs. $0.94 last year. -EPS Growth (Y-o-Y): 50.0% -Analysts Estimate: $1.35 -Revenue (Q2): $1.01 Bln vs. $0.87 Bln last year. -Revenue Change (Y-o-Y): 16.1%

-Guidance: Next quarter EPS guidance: $1.30 to $1.40 Next quarter revenue guidance: $971.7 - $1012.1 Mln