Microchip Tech: Fiscal Q4 Earnings Snapshot

CHANDLER, Ariz. (AP) — CHANDLER, Ariz. (AP) — Microchip Technology Inc. (MCHP) on Thursday reported fiscal fourth-quarter profit of $604 million.

On a per-share basis, the Chandler, Arizona-based company said it had net income of $1.09. Earnings, adjusted for amortization costs and pretax expenses, came to $1.64 per share.

The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.62 per share.

The chipmaker posted revenue of $2.23 billion in the period, which also beat Street forecasts. Ten analysts surveyed by Zacks expected $2.22 billion.

For the year, the company reported profit of $2.24 billion, or $4.02 per share. Revenue was reported as $8.44 billion.

For the current quarter ending in June, Microchip Tech expects its per-share earnings to range from $1.63 to $1.65. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.46.

The company said it expects revenue in the range of $2.26 billion to $2.32 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $2.08 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MCHP at https://www.zacks.com/ap/MCHP