8-K: Current report filing
Published on October 9, 2007
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
THE
SECURITIES EXCHANGE ACT OF
1934
Date
of Report (Date of earliest event
reported)
October
8, 2007
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MICROCHIP
TECHNOLOGY INCORPORATED
(Exact
Name Of Registrant As Specified In Its
Charter)
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Delaware
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0-21184
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86-0629024
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(State
Or Other Jurisdiction Of Incorporation)
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(Commission
File No.)
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(IRS
Employer Identification No.)
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2355
West Chandler Boulevard, Chandler,
Arizona 85224-6199
(Address
Of Principal Executive Offices)
(480)
792-7200
(Registrant’s
Telephone Number,
Including Area Code)
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Check
the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under
any
of the following provisions:
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¨
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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¨
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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¨
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
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¨
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
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Item
2.02. Results
of Operations and Financial Condition.
The
information pursuant to Item 2.02 in this report on Form 8-K is being furnished
as contemplated by General Instruction B(2) to Form 8-K and shall not be deemed
"filed" for purposes of Section 18 of the Securities Exchange Act of
1934, as amended, or otherwise subject to the liabilities of that
Section.
On
October 8, 2007, we announced
the preliminary results of our operations for the quarter ended September
30,
2007. The complete release is attached to this report as Exhibit 99.1. In
connection with the October 8, 2007 press release, we held a conference call
with investors as described in the press release. In addition to the information
in the press release, the following information was discussed on the
call:
We
added 9 new products in our
8-bit product line during the September 2007 quarter bringing that total
to
382.
We
sold 26,344
new development tools in the September 2007 quarter, which was our second
highest level of shipments ever after record shipments in the June 2007
quarter.
We
are on target to ship our 6
Billionth Microcontroller in January 2008.
Microchip’s
internally created US
housing index of 10 large customers who build products for the US housing
sector
was 86% in the June 2007 quarter and dropped to 81% in the September
quarter.
We
are continuing to generate
substantial free cash from operations which was approximately $110 million
in
the September 2007 quarter before dividends and stock buy-back
activity.
We
expect gross margins to be at
near record levels of approximately 60.4% for the September 2007 quarter
and
going higher for the December 2007 quarter due to depreciation roll
off.
We
expect inventory in the
September quarter to grow to about 112 days and then grow further in the
December 2007 quarter.
Item
9.01. Financial
Statements and Exhibits.
(d) Exhibits
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99.1
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October
8, 2007
Press Release: Microchip Technology Announces Preliminary
Results For Second Quarter Fiscal
2008
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2
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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Dated: October 9,
2007
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Microchip
Technology Incorporated
(Registrant)
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By: /s/
Gordon W. Parnell
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Gordon
W. Parnell
Vice
President, Chief Financial
Officer
(Principal
Accounting and
Financial Officer)
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3
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EXHIBITS
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99.1
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October
8, 2007 Press Release: Microchip Technology Announces
Preliminary Results For Second Quarter Fiscal
2008
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