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Microchip Technology Reports Narrower 4Q Profit

Stock quotes in this article: MCHP  

CHANDLER, Ariz. (AP) — Semiconductor maker Microchip Technology Inc. reported Thursday that its fiscal fourth quarter 2009 profit declined 70 percent to $22.8 million as sales plunged 34 percent, but results still topped Wall Street expectations.

Profit for the quarter ended March 31 totaled 12 cents a share, compared with year-ago earnings of $76.7 million, or 40 cents a share. Adjusted profit came to 15 cents a share in the latest period.

Sales slid to $173.3 million from $260.4 million a year earlier. ...

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