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Microchip Tech: Fiscal Q3 Earnings Snapshot

CHANDLER, Ariz. (AP) — CHANDLER, Ariz. (AP) — Microchip Technology Inc. (MCHP) on Thursday reported fiscal third-quarter profit of $62.7 million.

The Chandler, Arizona-based company said it had net income of 6 cents per share. Earnings, adjusted for amortization costs and stock option expense, came to 44 cents per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.

The chipmaker posted revenue of $1.19 billion in the period, matching Street forecasts.

For the current quarter ending in March, Microchip Tech said it expects revenue in the range of $1.24 billion to $1.28 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MCHP at https://www.zacks.com/ap/MCHP

One Tech Tip: What to know about flying with lithium ion portable battery chargers

Jetting off soon for summer travels? If you're planning on bringing an extra battery charger for your phone or other devices, be aware of the latest rules when taking one on a flight. Rechargeable lithium-ion portable battery chargers, also known as power banks, come in protective enclosures of various shapes and sizes. They're a handy and popular way for getting more juice when you're on the move. But after a spate of smoke or fire incidents, U.S. and international aviation authorities have issued new guidelines and airlines have tightened up rules for passengers. Here's a guide on flying with power banks.
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