Microchip Tech: Fiscal Q3 Earnings Snapshot

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CHANDLER, Ariz. (AP) — CHANDLER, Ariz. (AP) — Microchip Technology Inc. (MCHP) on Thursday reported a loss of $53.6 million in its fiscal third quarter.

The Chandler, Arizona-based company said it had a loss of 10 cents per share. Earnings, adjusted for one-time gains and costs, were 20 cents per share.

The results missed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.

The chipmaker posted revenue of $1.03 billion in the period, also missing Street forecasts. Nine analysts surveyed by Zacks expected $1.05 billion.

For the current quarter ending in March, Microchip Tech expects its per-share earnings to range from 5 cents to 15 cents.

The company said it expects revenue in the range of $920 million to $1 billion for the fiscal fourth quarter.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MCHP at https://www.zacks.com/ap/MCHP