Microchip Technology Narrows Financial Guidance for Fourth Quarter Fiscal 2018
Summary
CHANDLER, Ariz., March 01, 2018 (GLOBE NEWSWIRE) -- (NASDAQ: MCHP ) – Microchip Technology Incorporated, a leading provider of microcontroller, mixed signal, analog and Flash-IP solutions, today narrowed the range of its prior guidance for net sales and GAAP and non-GAAP earnings per share for its fiscal fourth quarter of 2018 ending March 31, 2018.“The March 2018 quarter is tracking towards our original guidance provided on February 6, 2018,” said Steve Sanghi, Microchip’s CEO.The statements in this release relating to our updated expected net sales and GAAP and non-GAAP earnings per share for the March 2018 quarter, the March quarter tracking towards our original guidance, and continuing to be very confident regarding our long-term growth initiatives and operating model targets are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.These statements involve risks and uncertainties that could cause our actual results to differ materially, including, but not limited to: any economic uncertainty due to monetary policy, political or other issues in the U.S. or internationally, any unexpected fluctuations or weakness in the U.S. and global economies (including China), changes in demand or market acceptance of our products and the products of our customers; foreign currency effects on our business; the mix of inventory we hold and our ability to satisfy short-term orders from our inventory; changes in utilization of our manufacturing capacity and our ability to effectively manage and expand our production levels in response to actual and anticipated customer demand; our ability to continue to obtain a sufficient supply of wafers from third party wafer foundries and the cost of such wafers, competitive developments including pricing pressures; the level of orders that are received and can be shipped in a quarter; the level of sell-through of our products through distribution; changes or fluctuations in customer order patterns and seasonality; our ability to continue to successfully integrate the operations and employees, retain key employees and otherwise realize the expected synergies and benefits of our acquisitions; the impact of any other significant acquisitions that we may make; changes in U.S. corporate tax laws as a result of the recently enacted Tax Cuts and Jobs Act or any future legislation; the costs and outcome of any current or future tax audit or any litigation or disputes involving intellectual property, customers or other issues; our actual average stock price in the March 2018 quarter and the impact such price will have on our share count; disruptions in our business or the businesses of our customers or suppliers due to natural disasters (including any floods in Thailand), terrorist activity, armed conflict, war, worldwide oil prices and supply, public health concerns or disruptions in the transportation system; and general economic, industry or political conditions in the United States or internationally.Headquartered in Chandler, Arizona, Microchip offers outstanding technical support along with dependable delivery and quality.