Microchip Technology Inc. Announces 30% Advance In Q1 Earnings

(RTTNews) - Microchip Technology Inc. (MCHP) reported a profit for its first quarter that advanced from last year.

The company said its bottom line climbed to $193.98 million, or $0.84 per share. This was higher than $148.94 million, or $0.69 per share, in last year's first quarter.

Analysts had expected the company to earn $0.74 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 49.7% to $799.41 million. This was up from $533.95 million last year.

Microchip Technology Inc. earnings at a glance:

-Earnings (Q1): $193.98 Mln. vs. $148.94 Mln. last year. -Earnings Growth (Y-o-Y): 30.2% -EPS (Q1): $0.84 vs. $0.69 last year. -EPS Growth (Y-o-Y): 21.7% -Analysts Estimate: $0.74 -Revenue (Q1): $799.41 Mln vs. $533.95 Mln last year. -Revenue Change (Y-o-Y): 49.7%

-Guidance: Next quarter EPS guidance: $0.83 - $0.91 Next quarter revenue guidance: $844.0 - $877.8 Mln