Microchip Technology Inc. Reveals Rise In Q3 Earnings

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

The company said its bottom line totaled $341.15 million, or $1.36 per share. This was higher than $246.55 million, or $1.05 per share, in last year's third 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 12.8% to $994.21 million. This was up from $881.19 million last year.

Microchip Technology Inc. earnings at a glance:

-Earnings (Q3): $341.15 Mln. vs. $246.55 Mln. last year. -Earnings Growth (Y-o-Y): 38.4% -EPS (Q3): $1.36 vs. $1.05 last year. -EPS Growth (Y-o-Y): 29.5% -Analysts Estimate: $1.35 -Revenue (Q3): $994.21 Mln vs. $881.19 Mln last year. -Revenue Change (Y-o-Y): 12.8%

-Guidance: Next quarter EPS guidance: $1.30 - $1.39 Next quarter revenue guidance: $964.4 - $1004 Mln