UPDATE 2-Microchip Q3 profit falls, to cut production

viernes 30 de enero de 2009 00:31 CET

* Q3 profit, revenue fall

* To cut Q4 production

* Declines to give Q4 revenue outlook

* Q3 inventory level rises

* Jan booking on weak side (Recasts, adds conference call details, share movement)

Jan 29 (Reuters) - Chipmaker Microchip Technology Inc (MCHP.O: Cotización) posted a 9 percent fall in quarterly profit, and said it would cut production and declined to give an outlook, blaming the worsening global as well as semiconductor industry conditions.

Production levels in its facilities in the United States and Thailand would be reduced to moderate inventory growth, and fourth-quarter production would be about 40 percent lower than the second quarter, Chief Executive Steve Sanghi said.

The semiconductor industry's woes have been triggered by chronic oversupply and falling prices as the global financial crisis cuts demand for chips in electronics products and automobiles.

Inventory levels at the end of the third quarter grew to 143 days compared with 110 days at the end of the second quarter.   Continuación...