Microchip Technology expects Q3 non-GAAP EPS of $0.94Staff Writer | November 30, 2016
Microchip Technology improved the range of its prior guidance for non-GAAP net sales and non-GAAP earnings per share for its fiscal third quarter of 2017 ending December 31, 2016.
Microchip Technology Non-GAAP net sales to be down 1%
Microchip now expects consolidated non-GAAP net sales to be down 1% to 4% with a mid-point of down 2.5%. Microchip previously provided guidance on November 7, 2016 for consolidated non-GAAP net sales to be flat to down 6% with a mid-point of down 3%.
"With the continued execution of our integration activities and operational improvements for our business we are on track to realize our long term business model of 33% non-GAAP operating income by the fourth quarter of fiscal 2018," said Steve Sanghi, Microchip's CEO. ■