Here's one of my favorites, if I may be permitted to shill for a moment (financials to follow in next post):
biz.yahoo.com
Thursday July 13, 4:33 pm Eastern Time
Company Press Release
Microchip Technology Reports Record First Quarter Results
CHANDLER, Ariz.--(BUSINESS WIRE)--July 13, 2000--Microchip Technology Inc. (Nasdaq: MCHP - news) reported record net sales and earnings for its first quarter of fiscal 2001 ended June 30, 2000.
Net sales for the quarter were $157.7 million, an increase of 46 percent from sales of $107.7 million in the prior year's first quarter, and up 12 percent sequentially from sales of $140.8 million in the immediately preceding quarter.
Diluted earnings per share for the first quarter were $0.44 on 84.2 million average shares outstanding, an increase of 75 percent from the prior year's first quarter and up 18 percent sequentially from the immediately preceding quarter.
``Microchip's business continues to be extremely robust in all phases of our enterprise,'' said Steve Sanghi, Microchip president and chief executive officer. ``This quarter we set new records in shipments, gross margins and earnings, fueled primarily by strong demand and a favorable pricing environment for our Microcontoller, Serial EEPROM and Analog products.
``Record bookings and shipments were also made by each geography -- Americas, Asia and Europe, and by product line -- Microcontrollers, Serial EEPROMs and Analog products. We also have record visibility for our September quarter, entering the quarter with a strong backlog position. We continue to expedite our capital spending for capacity expansion in order to meet anticipated growth in demand.''
The statements contained in this release relating to visibility for the September quarter, capital spending and anticipated growth in product demand are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
These statements involve risks and uncertainties that could cause actual results to differ materially, including, but not limited to, future demand for the company's products, inventory mix and timing of customer orders, the level of orders that are received and can be shipped in a quarter, continued design wins for new products, general economic conditions and other risks detailed in the company's 10-Q and 10-K for the fiscal year ended March 31, 2000 as filed with the Securities and Exchange Commission.
Fiscal First Quarter 2001 Results
Microchip Technology Inc. manufactures the widely popular PICmicro® RISC microcontrollers which serve 8- and 16-bit embedded control applications.
Specializing in field-programmable and mixed-signal solutions, the company also offers complementary microperipheral products including stand-alone analog, interface and microID(TM) RFID devices; serial EEPROMs; and the patented KEELOQ® security devices.
This synergistic product portfolio targets thousands of applications and a growing demand for high-performance designs in the automotive, communications, computing, consumer and industrial control markets.
The company's quality systems are ISO 9001 (1994 version) and QS9000 (1998 version) certified. Microchip is headquartered near Phoenix in Chandler, with semiconductor fabrication facilities in both Chandler and Tempe, Ariz., and assembly and test operations near Bangkok, Thailand.
Microchip employs approximately 2,900 people worldwide and has sales offices throughout Asia, Europe, Japan and the Americas. Additional company information is available on Microchip's website at: www.microchip.com
Note: The Microchip name and logo, PIC, PICmicro, and KEELOQ are registered trademarks of Microchip Technology Inc. in the U.S. and other countries. microID is a trademark of Microchip Technology Inc. in the U.S. and other countries. All other trademarks are the property of their respective owners. |
