Microchip Technology Inc. Q2 Profit Decreases, But Beats Estimates

(RTTNews) - 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