News

Microchip Technology Reports First-Quarter 2006 Results

August 01, 2005 by Jeff Shepard

Microchip Technology Inc. (Chandler, AZ) reported results for the three months ended June 30, 2005. Net sales for the first quarter of fiscal 2006 were $218.5 million, up 5.0 percent sequentially from $208.1 million in the immediately preceding quarter, and up 2.7 percent from sales of $212.8 million in the prior year's first quarter.

Net income for the first quarter of fiscal 2006 was a record $61.0 million, or $0.29 per diluted share, up 8.2 percent from GAAP net income of $56.4 million, or $0.27 per diluted share, in the immediately preceding quarter; up 39.3 percent from GAAP net income of $43.8 million, or $0.21 per diluted share, in the prior year's first quarter; and up 7.5 percent from non-GAAP net income of $56.8 million, or $0.27 per diluted share, in the prior year's first quarter.

Microchip also announced that its board of directors has declared a quarterly cash dividend on its common stock of $12.5 cents per share. The quarterly dividend is payable on September 1, 2005, to stockholders of record on August 12, 2005. Microchip initiated quarterly cash dividend payments in the third quarter of fiscal 2003.