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Electronics Production | May 03, 2007

Microchip performed record sales in 2007

Microchip Technology reports record sales and net income for the fiscal year 2007. Net sales reached $258.2 million, up 2.9% sequentially and up 4,5% over the fourth quarter one year ago.
Microchip Technology Incorporated reported results for the three months ended March 31, 2007 and for the fiscal year ended March 31, 2007. Net sales for the fourth quarter of fiscal 2007 were $258.2 million, up 2.9% sequentially from sales of $251 million in the immediately preceding quarter, and up 4.5% from sales of $247.2 million in the prior year's fourth quarter. GAAP net income for the fourth quarter of fiscal 2007 was a record $127.7 million, or 57 cents per diluted share, up 75.3% from GAAP net income of $72.8 million, or 33 cents per diluted share, in the immediately preceding quarter, and up 69.0% from GAAP net income of $75.6 million, or 35 cents per diluted share in the prior year's fourth quarter. Non-GAAP net income for the fourth quarter of fiscal 2007 was $81.3 million, or 37 cents per diluted share, up 3.3% from non-GAAP net income of $78.7 million, or 36 cents per diluted share, in the immediately preceding quarter, and up 7.6% from GAAP net income of $75.6 million, or 35 cents per share, in the prior year's fourth quarter.

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