June 5, 2017 / 9:22 PM / 2 months ago

BRIEF-Microchip Technology increases guidance for net sales and EPS for Q1

1 Min Read

June 5 (Reuters) - Microchip Technology Inc:

* Microchip Technology increases guidance for net sales and EPS for first quarter of fiscal 2018

* Q1 2018 ‍GAAP earnings per share are expected to be between 62 cents and 64 cents​

* Sees Q1 2018 GAAP earnings per share $0.62 to $0.64

* Sees Q1 2018 non-GAAP earnings per share $1.22 to $1.26

* ‍"Net sales in fiscal Q1 are expected to grow 12.6 pct from our non-GAAP sales of same quarter of a year ago"​

* Net sales are expected to be up 18.8 pct for Q1 from GAAP net sales of same quarter of a year ago​

* Expect that it could take another year for inventories and lead times to return to more normal levels​

* Q1 earnings per share view $1.22, revenue view $944.0 million -- Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage:

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