In This Article:
CHANDLER, Ariz. (AP) — CHANDLER, Ariz. (AP) — Microchip Technology Inc. (MCHP) on Thursday reported a loss of $154.6 million in its fiscal fourth quarter.
On a per-share basis, the Chandler, Arizona-based company said it had a loss of 29 cents. Earnings, adjusted for one-time gains and costs, came to 11 cents per share.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The chipmaker posted revenue of $970.5 million in the period, also topping Street forecasts. Nine analysts surveyed by Zacks expected $961.1 million.
For the year, the company reported a loss of $500,000, or 1 cent per share. Revenue was reported as $4.4 billion.
For the current quarter ending in June, Microchip Tech expects its per-share earnings to range from 18 cents to 26 cents.
The company said it expects revenue in the range of $1.02 billion to $1.07 billion for the fiscal first quarter.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MCHP at https://www.zacks.com/ap/MCHP