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Microchip Technology rises after posting 58% revenue growth, record segment sales

Aug. 09, 2016 10:36 AM ETMicrochip Technology Incorporated (MCHP) StockBy: Eric McCaffrey, SA News Editor
  • Microchip Technology (NASDAQ:MCHP +8.2%exceeded expectations for Q1 2017, posting revenue ($844M) above its own guidance of $799.1M-$841.9M.
  • Notes $228M impact of Atmel acquisition, restructuring and other expenses.
  • Gross margins of 55.8%, record operating income of $231.1M, record net income from continuing operations of $194M and record EPS from continuing operations of $0.84.
  • The company realized record sales in its microcontroller, analog and memory segments.
  • Declares record dividend of $0.36 per share.
  • Projects Q2 2017 revenue of $844M-$877.8M, gross margin of 55.6%-56.2%, operating expenses of 27.2%-27.9%, operating income of 27.7%-29%, net income of $192.7M-$213.2M and EPS of $0.83-$0.91.
  • Press release

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