Microchip Technology Announces Financial Results for First Quarter of Fiscal Year 2025

Net sales of $1.241 billion, down 6.4% sequentially and down 45.8% from the year ago quarter. The midpoint of our guidance provided on May 6, 2024 was net sales of$ 1,240 billion. On a GAAP basis: gross profit of 59.4%; operating income of $219.1 million and 17.7% of net sales; net income of$ 129.3 million; and EPS of $0.24 per diluted share. Our guidance provided on May 6, 2024 was for GAAP EPS of$ 0.19 to $0.24 per diluted share. On a Non-GAAP basis: gross profit of 59.9%; operating income of$ 390.5 milli ...