Earnings Review: Microchip Technology Inc.(NASDAQ:MCHP) & ICU Medical (NASDAQ:ICUI)

ICU Medical, Incorporated(NASDAQ:ICUI) declared its results on Monday. Its net income increased 32 percent in the third quarter thanks to greater sales of infusion therapy and cancer treatment products. The profit was $12.20 million, which works out to 82 cents a share, up from $9.3 million or an EPS of 60 by cents per share in the corresponding quarter last year. Revenue rose 6 percent to $81.4 million.

Analysts expected earnings of 68 cents per share and revenue of $81.3 million.

The company has increased its profit guidance for the year, but has reduced its revenue estimates due to a weaker Euro and lower revenue from its critical care business. It now expects an annual net income of $2.75 to $2.80 per share, higher than its previous estimate of $2.55 to $2.70. It now estimates its annual revenue to be in the range of $315 million to $318 million compared to its earlier forecast in the range of $318 million and $325 million.

Analysts on the other hand expect annual earnings of $2.60 per share and revenue of $320.4 million.

The shares of the company rose $1.26, to  $61.22.

Microchip Technology Inc.(NASDAQ:MCHP) has said that its revenue for the quarter ended September 30 will be below expectations due to weakness in the economy and the industry. The Arizona based company now sees its revenue in the range of $407 million and $408 million, down from its earlier expectations of $412 million to $430 million.

Shares of the company which manufactures chips for cars, medical devices and computers, fell 96 cents or 3 percent to $31.24 in aftermarket trade.

Analysts expect the revenue to be $420.6 million compared to last year’s $341 million.

The company will declare its results on November 8.

Shares of MCHP added 2.14% to $32.89.