Microchip Technology, a developer of semiconductor products, has reported net sales of $380m for the fourth quarter of the FY11, an increase of 36.7% as compared to net sales of $278m of the same quarter previous year.
The company reported a gross profit of $226m, compared to $168.5m in the same period a year ago.
Operating income for Q4 2011 increased to $124.4m, from $88.5m of the fourth quarter of fiscal 2010.
For the fourth quarter ended 31 March 2011, the company posted a net income of $125.5m or diluted net income per share of $0.62, compared to net income of $75.7m or diluted net income per share of $0.40 of the same quarter of previous year.
For the fiscal year 2011, the company recorded net sales of $1.5bn, compared to $948m for the previous fiscal year.
Operating income and net income for the fiscal 2011 increased to $474m and $419m, respectively compared to $245m and $217m for the previous fiscal year.
Microchip Technology president and CEO Steve Sanghi said microchip’s performance in the March 2011 quarter and in fiscal year 2011 was outstanding.
"We exceeded the high end of our gross margin and earnings per share guidance, even with the challenging backdrop of the world economy and the Japan crisis. The March quarter marked our 82nd consecutive quarter of profitability and is a testimony to the resiliency of our business model," Sanghi said.
For the first quarter of 2012, the company expects net sales to range between $383.8m to $402.8m and net income to range between $106.5m to $112.9m.
