Microchip Technology Inc. Bottom Line Rises 64% In Q1

(RTTNews) - Microchip Technology Inc. (MCHP) announced a profit for its first quarter that rose compared to the same period last year.

The company said its bottom line came in at $319.05 million, or $1.31 per share. This was higher than $193.98 million, or $0.84 per share, in last year's first quarter.

Analysts had expected the company to earn $1.23 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 21.6% to $972.14 million. This was up from $799.41 million last year.

Microchip Technology Inc. earnings at a glance:

-Earnings (Q1): $319.05 Mln. vs. $193.98 Mln. last year. -Earnings Growth (Y-o-Y): 64.5% -EPS (Q1): $1.31 vs. $0.84 last year. -EPS Growth (Y-o-Y): 56.0% -Analysts Estimate: $1.23 -Revenue (Q1): $972.14 Mln vs. $799.41 Mln last year. -Revenue Change (Y-o-Y): 21.6%

-Guidance: Next quarter EPS guidance: $1.33 - $1.37 Next quarter revenue guidance: $1,001.3 Mln