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Jun 30, 2020
Microchip Q1 2021 Earnings Report
Microchip's financial performance was solid with net sales of $1.31 billion, and EPS of $0.48 and $1.56 on a GAAP and non-GAAP basis, respectively.
Key Takeaways
Microchip Technology Incorporated reported solid financial results for the first quarter of fiscal year 2021. The company's net sales reached $1.31 billion. GAAP EPS was $0.48, while non-GAAP EPS was $1.56. The company also declared a record quarterly dividend of 36.80 cents per share.
Net sales were $1.310 billion, a decrease of 1.3% sequentially and 1.0% year-over-year.
GAAP gross margin was 61.0%, with operating income of $218.3 million, net income of $123.6 million, and EPS of $0.48.
Non-GAAP gross margin was 61.7%, with operating income of $505.2 million, net income of $401.9 million, and EPS of $1.56.
A record quarterly dividend of 36.80 cents per share was declared.
Forward Guidance
Microchip expects net sales in the September quarter to be flat to down 8% sequentially.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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