From GlobeNewswire: 2025-02-06 16:15:00

Microchip Technology Incorporated reported net sales of $1.026 billion for the quarter, down 41.9% from the previous year. GAAP net loss was $53.6 million, or $0.10 per diluted share. Non-GAAP net income was $107.3 million, or $0.20 per diluted share. A quarterly dividend of 45.5 cents per share was declared. The company is taking steps to realign its business for improved performance. Capital expenditures for the quarter are expected to be around $23 million, with a focus on enhancing financial performance and profitability. The company is cautiously optimistic about future performance. Net sales guidance for the March quarter is $920.0 million to $1.000 billion. The company is focused on operational enhancements and strengthening its competitive position. The Board of Directors declared a quarterly cash dividend of 45.5 cents per share, an increase of 1.1% from the previous year. Microchip is executing multiple operational initiatives to enhance financial performance and maintain shareholder returns. The company’s comprehensive technology platform is driving innovation in critical markets, positioning it to meet evolving customer needs. The company is focused on inventory management and maintaining profitability levels. Microchip’s net sales guidance for the March quarter is $920.0 million to $1.000 billion. The company is taking a cautious but focused approach to future performance. Microchip will host a conference call today to discuss the latest results and outlook for the company. Interested parties can listen to the webcast or access a replay online. Microchip Technology Incorporated is a leading provider of smart, connected, and secure embedded control solutions. The company serves a wide range of markets and is committed to delivering high-quality solutions to its customers.



Read more at GlobeNewswire:: Microchip Technology Announces Financial Results for Third