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Microchip Technology Inc Raises Q1 2014 Guidance


Monday, 3 Jun 2013 04:59pm EDT 

Microchip Technology Inc revised its financial guidance for its first quarter of 2014 and now expects net sales to be up between 4% and 7% sequentially, and non-GAAP earnings per share to be between 52 and 56 cents per share. Microchip previously provided guidance on May 2, 2013 for net sales to be up between 2% and 6% and non-GAAP earnings per share to be between 50 and 54 cents per share. The Company expect GAAP earnings per share to be between 32 to 36 cents per share compared to previous guidance for GAAP earnings per share of 30 to 34 cents per share. The Company reported revenue of $430.14 million in the fourth quarter of 2013. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $447.7 million and EPS of $0.52 for first quarter of 2014.