Microchip Technology Inc. (MCHP) announced that its third-quarter GAAP net income was $69.4 million or $0.37 per share, down from GAAP net income of $72.4 million or $0.39 per share, in the prior year's third fiscal quarter.
Non-GAAP net income for the third quarter of fiscal year 2010 was $70.1 million or $0.38 per share, up from non-GAAP net income of $41.2 million or $0.23 per share, in the prior year's third fiscal quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.29 per share. Analysts' estimates typically exclude special items.
Net sales was $250.1 million, up about 30.1% from $192.2 million in the prior year's third fiscal quarter. Eleven analysts had consensus revenue estimate of $243.00 million for the quarter.
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