Microchip Technology (Nasdaq: MCHP) reported earnings on July 31. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended June 30 (Q1), Microchip Technology beat slightly on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue increased significantly. Non-GAAP earnings per share grew significantly. GAAP earnings per share dropped.

Margins contracted across the board.

Revenue details
 Microchip Technology recorded revenue of $462.8 million. The 13 analysts polled by S&P Capital IQ hoped for revenue of $454.7 million on the same basis. GAAP reported sales were 31% higher than the prior-year quarter's $352.1 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.

EPS details
 EPS came in at $0.57. The 13 earnings estimates compiled by S&P Capital IQ forecast $0.54 per share. Non-GAAP EPS of $0.57 for Q1 were 19% higher than the prior-year quarter's $0.48 per share. GAAP EPS of $0.37 for Q1 were 5.1% lower than the prior-year quarter's $0.39 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.

Margin details
 For the quarter, gross margin was 57.6%, 10 basis points worse than the prior-year quarter. Operating margin was 21.6%, 580 basis points worse than the prior-year quarter. Net margin was 17.0%, 540 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $471.9 million. On the bottom line, the average EPS estimate is $0.57.

Next year's average estimate for revenue is $1.87 billion. The average EPS estimate is $2.28.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 312 members out of 332 rating the stock outperform, and 20 members rating it underperform. Among 104 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 103 give Microchip Technology a green thumbs-up, and one give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Microchip Technology is outperform, with an average price target of $41.70.

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