— Microchip Technology Incorporated (NASDAQ: MCHP) reported earnings of $1.32 per share in the third quarter of 2019, vs. $1.26 per share expected.
— Total revenue fell 6.4% to $1.29 billion, vs. $1.28 billion expected.
— End-market demand for microcontroller business was down 1.1%, for analog business was down 3.6% and for FPGA business was flat compared to the September 2019 quarter.
— For the fourth quarter, Microchip expects net sales between $1.313 billion and $1.403 billion. Adjusted EPS for this period is projected to be $1.35 to $1.51.
— MCHP shares were down 0.41% immediately following the announcement.
ADVERTISEMENT
Get access to timely and accurate verbatim transcripts that are published within hours of the event.