Microchip reported results for the three months ended June 2006. Net sales for the first quarter of fiscal 2007 were $262.6 million, up 6.2% sequentially from $247.2 million in the immediately preceding quarter, and up 20.2% from sales of $218.5 million in the prior year's first fiscal quarter. GAAP net income was $77.0 million, up 26.2% compared to Q1 2007.