Microchip Technology announced its financial results for third quarter of fiscal year 2014.
- Net sales of $482.4 million, down 2.1% sequentially and up 15.9% from net sales in the year ago quarter.
- On a non-GAAP basis: gross margins of 59.0%; operating income of $153.8 million; net income of $132.9 million; and EPS of 61 cents per diluted share. The First Call published estimate for non-GAAP diluted EPS was 60 cents.
- On a GAAP basis: gross margins of 58.6%; operating income of $116.9 million; net income of $105.4 million; and EPS of 48 cents per diluted share. There was no published First Call estimate for GAAP EPS.
- Record net sales of analog products of $108.9 million.
Full results can be found at www.microchip.com.