Microchip Technology Incorporated (NASDAQ: MCHP), a leading provider of microcontrollers and analog semiconductors, announced that based on strong bookings and sales activities quarter to date, it expects net sales for its fourth quarter of fiscal 2010 ending March 31, 2010 to be up about 8% sequentially. Microchip expects GAAP diluted earnings per share to be approximately 37 cents and non-GAAP diluted earnings per share to be approximately 42 cents. On February 3, 2010, Microchip provided guidance of net sales increasing 3% to 7% sequentially, GAAP diluted earnings per share of approximately 34 to 36 cents, and non-GAAP diluted earnings per share of approximately 39 to 41 cents.

Gross margins in the fourth fiscal quarter are expected to be at the high end of our prior guidance, or approximately 59.35% on a GAAP basis and approximately 60.25% on a non-GAAP basis. Operating expenses are expected to be in line with our prior guidance at about 29.0% on a GAAP basis and about 26.2% on a non-GAAP basis.

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