Microchip sees higher-than-expected sales in current quarter
Semiconductor Business News
(08/10/00, 09:24:19 AM EDT)
CHANDLER, Ariz.-- Good news for high-tech investors and those worrying about the health of semiconductor markets. Microchip Technology Inc. here today said net sales and earnings for the copmpany's current fiscal quarter, ending Sept. 30, are expected to be stronger than previously anticipated and above analysts' estimates.
The supplier of microcontrollers said record sales are now expected to reach $176 million in the second fiscal quarter, an increase of 49% from the period last year and a sequential growth of 12% from the previous three-month period, ended June 30.
"Driven by strong backlog visibility coming into this quarter, robust demand across our product lines and favorable pricing environment, we expect to post another record quarter for shipments, gross margins and earnings," said Steve Sanghi, president and chief executive officer of Microchip. "We are seeing record manufacturing efficiency and yields from our factories and are cost effectively increasing capacity to meet demand," he added.
Microchip's earnings per share for the quarter are now expected to be about $0.50, up more than 75% percent from the year ago second quarter and an increase of 14% from the last quarter, said the Chandler company. Currently financial analysts are expecting Microchip's earnings to come in at around $0.48 per chare, based on a survey by First Call/Thomson Financial.
Microchip's financial results will be posted on Oct. 12, after the close of the stock market. |
