Microchip Q4 2021 Earnings Report
Key Takeaways
Microchip Technology reported record financial results for the fourth quarter and fiscal year 2021. Record net sales of $1.467 billion, up 8.5% sequentially and up 10.6% from the year ago quarter. On a Non-GAAP basis: record gross margin of 64.1%; record operating income of $596.9 million and a record 40.7% of net sales; record net income of $521.4 million and record EPS of $1.85 per diluted share.
Record net sales of $1.467 billion, up 8.5% sequentially and up 10.6% from the year ago quarter.
Record gross margin of 63.2%.
Record operating income of $596.9 million and a record 40.7% of net sales.
Record quarterly dividend declared of 41.3 cents per share, an increase of 5.9% from the prior quarter.
Microchip
Microchip
Forward Guidance
For the first quarter of fiscal year 2022, Microchip expects net sales to be up between 3.5% and 7.5% sequentially.
Positive Outlook
- Net Sales: $1.519 to $1.577 billion
- Gross Margin: 64.1% to 64.5%
- Operating Income: 40.6% to 41.4%
- Net Income: $521.2 to $553.6 million
- Earnings per Diluted Share: $1.85 to $1.95
Challenges Ahead
- Gross Margin: 63.6% to 63.9%
- Operating Expenses: 40.8% to 41.7%
- Operating Income: 21.8% to 23.2%
- Other Expense, net: $72.9 to $74.9 million
- Income Tax Provision: $47.9 to $65.3 million