MCHP
$90.40
Microchip Technology
($1.47)
(1.60%)
Earnings Details
2nd Quarter September 2017
Monday, November 06, 2017 4:15:19 PM
Tweet Share Watch
Summary

Microchip Technology Beats

Microchip Technology (MCHP) reported 2nd Quarter September 2017 earnings of $1.45 per share on revenue of $1.0 billion. The consensus earnings estimate was $1.36 per share on revenue of $1.0 billion. The Earnings Whisper number was $1.41 per share. Revenue grew 16.2% on a year-over-year basis.

Microchip Technology Inc develops, manufactures and sells semiconductor products used for a variety of embedded control applications. It also provides license Flash-IP solutions that are incorporated in a range of products.

Results
Reported Earnings
$1.45
Earnings Whisper
$1.41
Consensus Estimate
$1.36
Reported Revenue
$1.01 Bil
Revenue Estimate
$1.00 Bil
Growth
Earnings Growth
Revenue Growth
Power Rating
Grade
Earnings Release

Microchip Technology Declares Quarterly Cash Dividend of 36.25 Cents Per Share

(MCHP) - Microchip Technology Incorporated, a leading provider of microcontroller, mixed-signal, analog and Flash-IP solutions, today announced that its Board of Directors has declared a quarterly cash dividend on its common stock of 36.25 cents per share. The dividend is payable on December 5, 2017 to stockholders of record on November 21, 2017. Microchip initiated quarterly cash dividend payments in the third quarter of fiscal year 2003 and has increased its dividend 54 times since its inception.

"Microchip’s financial results in the September 2017 quarter were very strong and produced record high quarterly cash flow from operations of $350.1 million," said Steve Sanghi, Chief Executive Officer. "Our Board of Directors is pleased to declare an increase in our quarterly dividend to a record 36.25 cents per share, which continues to reflect our ongoing commitment to returning value to our stockholders."

Cautionary Statement:

The statement contained in this release relating to our ongoing commitment to returning value to our stockholders is a forward-looking statement made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This statement involves risks and uncertainties that could cause actual results to differ materially, including, but not limited to: actual cash flows generated from and used in the operation of our business; actual or projected levels of capital expenditures; our balance of cash and investments and whether such cash and investments are in the U.S. or foreign accounts; the tax impact of distributing accumulated earnings and profits held by our foreign subsidiaries to the U.S.; changes in the tax rates that our stockholders pay on our dividends or other changes in U.S. tax laws; our available borrowings under our credit agreement; the impact of any significant acquisitions we may make; our ability to realize the expected benefits of our acquisitions, changes in demand or market acceptance of our products and the products of our customers; the mix of inventory we hold and our ability to satisfy short-term orders from our inventory; changes in utilization of our manufacturing capacity and our ability to effectively manage our production levels; our ability to control the level of operating expenses relative to our level of revenues; competitive developments including pricing pressures; the level of orders that are received and can be shipped in a quarter; the level of sell-through of our products through distribution; changes or fluctuations in customer order patterns and seasonality; costs and outcome of any current or future tax audit or any litigation or other matters involving intellectual property, customers or other issues; disruptions in our business or the businesses of our customers or suppliers due to natural disasters (including any floods in Thailand), terrorist activity, armed conflict, war, worldwide oil prices and supply, public health concerns or disruptions in the transportation system; and general economic, industry or political conditions in the United States or internationally.

For a detailed discussion of these and other risk factors, please refer to Microchip’s filings on Forms 10-K and 10-Q. You can obtain copies of Forms 10-K and 10-Q and other relevant documents for free at Microchip’s website (www.microchip.com) or the SEC’s website (www.sec.gov) or from commercial document retrieval services.

Stockholders of Microchip are cautioned not to place undue reliance on our forward-looking statements, which speak only as of the date such statements are made. Microchip does not undertake any obligation to publicly update any forward-looking statements to reflect events, circumstances or new information after this November 6, 2017 press release, or to reflect the occurrence of unanticipated events.

About Microchip:

Microchip Technology Incorporated is a leading provider of microcontroller, mixed-signal, analog and Flash-IP solutions, providing low-risk product development, lower total system cost and faster time to market for thousands of diverse customer applications worldwide. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support along with dependable delivery and quality. For more information, visit the Microchip website at www.microchip.com.

The Microchip logo and name are registered trademarks of Microchip Technology Incorporated.

INVESTOR RELATIONS CONTACT:

J. Eric Bjornholt - CFO (480) 792-7804

<img src="http://www.globenewswire.com/newsroom/ti?ndecode=MTUwIzY5ODk4NzA=" alt="" width="1" height="1"/>