logo
Plus   Neg
Share
Email

Microchip Technology Q4 Profit Rises

Microchip Technology Inc. (MCHP) reported that its GAAP net income for the fourth quarter of fiscal 2019 was $174.7 million, or $0.70 per share, up from $146.7 million or $0.58 per share, in the prior year's fourth fiscal quarter. The latest-quarter result was significantly adversely impacted by purchase accounting adjustments associated with acquisitions.

Non-GAAP net income for the fourth quarter was $370.4 million, or $1.48 per share, up from $351.3 million, or $1.40 per share in the previous year.

Net sales for the fourth quarter were $1.330 billion, up 32.7% from net sales of $1.002 billion in the prior year's fourth fiscal quarter.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.40 per share and revenues of $1.33 billion. Analysts' estimates typically exclude special items.

For the first-quarter, the company expects earnings per share to be in the range of $0.07 to $0.27, non-GAAP earnings per share of $1.26 to $1.49, and net sales of $1.26 billion to $1.40 billion. Wall Street currently is looking for the first-quarter earnings of $1.54 per share on annual revenues of $1.39 billion.

Microchip announced that its board has declared a record quarterly cash dividend on its common stock of 36.55 cents per share. The quarterly dividend is payable on June 4, 2019 to stockholders of record on May 21, 2019.

For comments and feedback contact: editorial@rttnews.com

Business News

RELATED NEWS
Follow RTT