Microchip Technology Sees 4Q Profit Above Street

CHANDLER, Ariz. (AP) — Semiconductor maker Microchip Technology Inc. late Tuesday forecast fiscal fourth-quarter profit above analyst estimates.

The company expects profit between 9 cents and 11 cents per share for the quarter ending March 31, or between 13 cents and 15 cents per share excluding charges. The company forecast sales will decline between 8 percent and 12 percent from fiscal third-quarter revenue of $192.2 million. The projection implies fiscal fourth-quarter sales between $169.1 million and $176.8 million.

Analysts polled by Thomson Reuters expect profit of 10 cents per share on revenue of $171.5 million. Analyst estimates typically exclude one-time items. ...