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Microchip Reaffirms

Shares rise 13 cents in early action.

Semiconductor maker

Microchip Technology

(MCHP) - Get Free Report

, Tuesday reaffirmed its outlook for the third quarter of fiscal 2007.

The Chandler, Ariz.-based company said that it expects to earn about 33 cents a share on revenue of about $255 million for the quarter ended Dec. 31. Adjusted for share-based compensation expense earnings are expected to be about 36 cents a share. Analysts polled by Thomson First Call were expecting earnings of 33 cents a share on revenue of $254.9 million.

Microchip plans to announce its financial results for the third quarter of fiscal 2007 after market close on Tuesday, Jan. 23, 2007.

"The December quarter, based on the variables we anticipated, is in line with our prior guidance," the company said. "In spite of the challenging conditions in the marketplace, we still expect strong revenue growth in our 16-bit microcontrollers in the December quarter."

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