RTTNews | Aug 4, 2020 05:05PM EDT

17:04 Tuesday, August 4, 2020 (RTTNews.com) - Microchip Technology Inc. (MCHP) announced earnings for its first quarter that increased from the same period last year.

The company's bottom line came in at $123.6 million, or $0.48 per share. This compares with $50.7 million, or $0.20 per share, in last year's first quarter.

Excluding items, Microchip Technology Inc. reported adjusted earnings of $401.9 million or $1.56 per share for the period.

Analysts had expected the company to earn $1.43 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.8% to $1.31 billion from $1.32 billion last year.

Microchip Technology Inc. earnings at a glance:

-Earnings (Q1): $401.9 Mln. vs. $357.6 Mln. last year.-EPS (Q1): $1.56 vs. $1.41 last year.-Analysts Estimate: $1.43-Revenue (Q1): $1.31 Bln vs. $1.32 Bln last year.

-Guidance:Full year EPS guidance: $1.30 to $1.52Full year revenue guidance: $1.205 to $1.310 Bln

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