Microchip Technology Inc. Q4 Profit Increases, beats estimates

(RTTNews) - Microchip Technology Inc. (MCHP) revealed earnings for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $437.9 million, or $0.77 per share. This compares with $116.0 million, or $0.21 per share, in last year's fourth quarter.

Excluding items, Microchip Technology Inc. reported adjusted earnings of $764.6 million or $1.35 per share for the period.

Analysts on average had expected the company to earn $1.25 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 25.2% to $1.84 billion from $1.47 billion last year.

Microchip Technology Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $437.9 Mln. vs. $116.0 Mln. last year. -EPS (Q4): $0.77 vs. $0.21 last year. -Analyst Estimate: $1.25 -Revenue (Q4): $1.84 Bln vs. $1.47 Bln last year.