Microchip FY Q2 Tops Estimates; Div Increased Slightly

Microchip (MCHP) this afternoon posted revenue for its fiscal second quarter ended September 30 of $226.7 million, ahead of the street at $218.3 million. The micro-controller and analog chip company reported a non-GAAP profit for the quarter of 29 cents a share; the Street had expected 21 cents. Results exceeded the company’s September guidance.

For FY Q3, the company sees revenue of $236 million to $245 million, with non-GAAP profits of 33-35 cents a share; the Street had been expecting $224.1 million and 24 cents.

The company also said that its internal plan for calendar 2010 is for revenue of $1.05 billion and non-GAAP EPS of $1.50; note that for the March 2011 fiscal year the Street has been expecting $981.5 million and $1.22 a share.

Meanwhile, Microchip boosted its quarterly dividend rate to 34 cents, from 33.9 cents.

In late trading, MCHP is up 69 cents, or 2.8%, to $25.10.