CHANDLER, Ariz. (AP) — CHANDLER, Ariz. (AP) — Microchip Technology Inc. (MCHP) on Monday reported fiscal fourth-quarter net income of $154.7 million.
The Chandler, Arizona-based company said it had profit of 28 cents per share. Earnings, adjusted for one-time gains and costs, came to 57 cents per share.
The results met Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was also for earnings of 57 cents per share.
The chipmaker posted revenue of $1.33 billion in the period, also meeting Street forecasts.
For the year, the company reported profit of $1.91 billion, or $3.48 per share. Revenue was reported as $7.63 billion.
For the current quarter ending in June, Microchip Tech expects its per-share earnings to range from 48 cents to 56 cents.
The company said it expects revenue in the range of $1.22 billion to $1.26 billion for the fiscal first quarter.
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