Microchip Technology Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2014. For the quarter, the company reported net sales of $528,710,000 against $482,372,000 a year ago. Operating income was $98,009,000 against $116,918,000 a year ago. Income before income taxes was $86,191,000 against $112,588,000 a year ago. Net income attributable to company was $86,057,000 or $0.39 per diluted share against $105,401,000 or $0.48 per diluted share a year ago. Non-GAAP net sales were $535,828,000 against $482,372,000 a year ago. Non-GAAP operating income was $169,330,000 against $153,787,000 a year ago. Non-GAAP net income attributable to company was $143,268,000 or $0.64 per diluted share against $132,888,000 or $0.61 per diluted share a year ago. Capital spending was approximately $36.6 million for the December quarter.

For the nine months, the company reported net sales of $1,603,829,000 against $1,437,833,000 a year ago. Operating income was $315,273,000 against $332,827,000 a year ago. Income before income taxes was $283,886,000 against $314,130,000 a year ago. Net income attributable to company was $269,607,000 or $1.20 per diluted share against $283,786,000 or $1.31 per diluted share a year ago. Non-GAAP net sales were $1,613,416,000 against $1,437,833,000 a year ago. Non-GAAP operating income was $522,944,000 against $451,734,000 a year ago. Non-GAAP net income attributable to company was $445,140,000 or $1.99 per diluted share against $389,662,000 or $1.81 per diluted share a year ago.

For the fourth quarter ending March 31, 2015, the company expects capital expenditures to be $40 million. The company expects net cash generation during the March quarter of $140 million to $160 million prior to the dividend payment, changes in borrowing levels, and acquisition-related activities. For the fourth quarter on GAAP basis, the company expects net sales to be $537.2 to $547.9 million, net income before non-controlling interest to be $86 million to $91.4 million and net income to be $86.8 million to $92.2 million or $39 to $41 cents. For the fourth quarter on non-GAAP basis, the company expects net sales to be $541.2 to $551.9 million, net income before non-controlling interest to be $145.1 million to $151.9 million and net income to be $144.9 million to $151.7 million or $65 to $67 cents.

For the year ending March 31, 2015, the company expects capital expenditures to be $160 million.