Microchip Technology Inc. revealed its quarterly results indicating revenue gain of 7.2 percent year-over-year, a record, according to the Chandler, Ariz.-based company.
Revenues reported were $528.9 million, including $17.8 million from the acquisition of Supertex, up from $462.8 million recorded in the same quarter one year ago. Net income for the company came in at $89.9 million for the quarter with 40 cents per share, compared to $78.6 million in net income with 37 cents per share.
Microchip also said it set record net sales for its analog products as well as its 8-, 16- and 32-bit microcontrollers.
Some of the highlights that Microchip pointed out during its latest quarter included:
- The introduction of a family of USB power deliver (UPD) controllers.
- The roll out of four new SuperFlash embedded devices at64-Mbits of parallel flash memory.
- New microcontrollers with a larger flash and RAM memory.
- What Microchip claims is the industry’s first 5 kohm digital potentiometers with a specified 36V operating voltage and support of wide signal swings.
- An expansion of the company’s Digitally Enhanced Power Analog controller portfolio.
- Further entered the Internet of Things (IoT) arena with a Bluetooth Smart Low Energy Module and the GB2 family of microcontrollers.
Steve Sanghi, president and CEO of Microchip, said in a statement, after excluding Supertex in the results, “our non-GAAP gross margin was an outstanding 60 percent, and our non-GAAPO operating profit was 33.5 percent.” He added that the company was making “excellent progress toward our long term goal of 35 percent non-GAAP operating profit” and that “consolidated non-GAAP earnings per share was a record 68 cents.” Sanghi said this was 2 cents better than the mid-point in Microchip’s guidance.