Microchip Technology Inc. Falls On Revenue Warning

Microchip Technology Inc. warned Thursday that fiscal 2015 second-quarter sales will fall short of earlier guidance. The company said it expects net sales for the quarter ended Sept. 30, 2014 to be about $546.2 million, including $16.9 million from its recent ISSC acquisition vs. previous guidance of $560 million to $575.9 million, including $18 million from the ISSC acquisition. "The revenue miss was led by China," said Steve Sanghi, Microchip's President and CEO, in a statement.