CHANDLER, Ariz. (AP) — CHANDLER, Ariz. (AP) — Microchip Technology Inc. (MCHP) on Thursday reported fiscal fourth-quarter earnings of $144.2 million.
On a per-share basis, the Chandler, Arizona-based company said it had profit of 21 cents. Earnings, adjusted for one-time gains and costs, were 57 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.
The chipmaker posted revenue of $1.31 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $1.27 billion.
For the year, the company reported profit of $230 million, or 22 cents per share. Revenue was reported as $4.71 billion.
For the current quarter ending in June, Microchip Tech expects its per-share earnings to range from 67 cents to 71 cents.
The company said it expects revenue in the range of $1.44 billion to $1.47 billion for the fiscal first quarter.
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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