Microchip Technology Inc. Profit Advances 78% In Q3

(RTTNews) - Microchip Technology Inc. (MCHP) announced earnings for its third quarter that gained ground compared to the same period last year.

The company said its bottom line climbed to $246.55 million, or $1.05 per share. This was up from $138.44 million, or $0.64 per share, in last year's third quarter.

Analysts had expected the company to earn $0.86 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 59.6% to $881.19 million. This was up from $552.01 million last year.

Microchip Technology Inc. earnings at a glance:

-Earnings (Q3): $246.55 Mln. vs. $138.44 Mln. last year. -Earnings Growth (Y-o-Y): 78.1% -EPS (Q3): $1.05 vs. $0.64 last year. -EPS Growth (Y-o-Y): 64.1% -Analysts Estimate: $0.86 -Revenue (Q3): $881.19 Mln vs. $552.01 Mln last year. -Revenue Change (Y-o-Y): 59.6%

-Guidance: Next quarter EPS guidance: $1.01 - $1.11 Next quarter revenue guidance: $878 - $908 Mln