Microchip Technology Expects Q4 Increase
Microchip Technology Inc. (Chandler, AZ) announced that net sales and earnings for its fourth quarter ended March 31, 2002, are expected to exceed the guidance provided in the March 12, 2002, midquarter business update. Microchip plans to release comprehensive March quarter and audited fiscal year 2002 sales and earnings information after the close of market on April 25, 2002.
Net sales are expected to be approximately $148.5 million, up approximately five percent from the immediately preceding quarter. Earnings per share for the fourth quarter are expected to be approximately $0.19, representing an increase of approximately 12 percent from the immediately preceding quarter.
"The tone of our business was strong all quarter, with March being an exceptional month. Order visibility substantially improved during the March quarter, with bookings up approximately 35 percent from the immediately preceding quarter, and our book-to-bill ratio exceeding parity for the first time in six quarters," stated President and CEO Steve Sanghi.