SAN FRANCISCO—Microcontroller and analog chip vendor Microchip Technology Inc. said Monday (Oct. 15) that sales for the quarter ended Sept. 30 will be lower than previously expected, citing a poor macroeconomic environment.
Microchip (Chandler, Ariz.) said it now expects sales to be about $407 million to $408 million. The company previously said it expected sales for its fiscal second quarter to be between $412 million and $430 million.
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"Our lower than anticipated net sales activity in the September quarter was driven primarily by macroeconomic and industry conditions," said Steve Sanghi, Microchip’s president and CEO, in a statement. "The overall global economic outlook continues to be poor and is adversely impacting our business as well as the rest of the semiconductor industry."
Microchip plans to announce its financial results for the fiscal second quarter after the close of the stock markets on Nov. 8.
Last week, chip seller Advanced Micro Devices Inc. warned that its third quarter sales would be lower than previously expected due to slumping PC sales and a weak macroeconomic environment.