Microchip Revises Fiscal Q2 Forecast
Microchip Technology Incorporated (MCHP), a leading provider of microcontroller, mixed signal, analog and Flash-IP solutions, today narrowed the range and increased the mid-point of its prior guidance for net sales and earnings per share for its fiscal second quarter of fiscal 2016 ending September 30, 2015.
Microchip’s core business is tracking towards our original guidance while Micrel sales for the partial quarter are ahead of our original guidance.Microchip previously provided guidance on August 3, 2015 for consolidated non-GAAP net sales to be between $532 million and $569 million with a mid- point of $550.5 million. Microchip now expects consolidated non-GAAP net sales to be between $545 million and $563 million with a mid-point of $554 million. Microchip now expects non-GAAP earnings per share to be between 60 and 66 cents per share. The original guidance for non-GAAP earning per share was between 58 and 66 cents per share.