Microchip Technology Inc. (MCHP) revealed earnings for second quarter that Decreased from the same period last year but beat the Street estimates.
The company's bottom line totaled $13.9 million, or $0.03 per share. This compares with $78.4 million, or $0.14 per share, last year.
Excluding items, Microchip Technology Inc. reported adjusted earnings of $199.1 million or $0.35 per share for the period.
Analysts on average had expected the company to earn $0.33 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 2.0% to $1.140 billion from $1.163 billion last year.
Microchip Technology Inc. earnings at a glance (GAAP) :
-Earnings: $13.9 Mln. vs. $78.4 Mln. last year.-EPS: $0.03 vs. $0.14 last year.-Revenue: $1.140 Bln vs. $1.163 Bln last year.
-Guidance:Next quarter EPS guidance: $0.34 to $0.40
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