Microchip Reports Record Quarterly Sales
Nov 5, 2010
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Microchip Technology Inc., supplier of microcontroller, analog and Flash-IP solutions, reported consolidated net sales of $382.3 million for the quarter ended Sept. 30, 2010. Net sales for microcontroller, analog, memory, and technology licensing were $342.3 million, near the high end of prior guidance.

The company reported record quarterly net cash generation of $156.9 million prior to the dividend payment.

"The September quarter was an all-time record for Microchip in many respects," said Steve Sanghi, Microchip’s president and CEO. “Microchip’s net sales for the September quarter were a record $382.3 million and were up 7% sequentially. Non-GAAP operating income was an all-time record high of $138.2 million, at 36.2% of sales. Our August 5, 2010 guidance for non-GAAP earnings per share was 58 cents and our non-GAAP EPS for the September quarter was a record 63 cents."

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