Microchip Technology (MCHP) Q2 FY2014 Record Net Sales, Upgraded

Microchip Technology Inc. (Nasdaq:MCHP)

For the three months ended September 30, 2013, MCHP 's net sales, non-GAAP gross margin percentage and non-GAAP EPS all exceeded the high end of its guidance.

On the second quarter of its fiscal 2014, MCHP posted GAAP net sales of $492.7 million, an increase of 6.5% sequentially and 28.5% year over year, and GAAP net income of $99.8 million, or $0.46 per diluted share, up 27.0% from $78.6 million, or $0.37 per diluted share, in the immediately preceding quarter, and up from a GAAP net loss of $21.2 million, or a loss of $0.11 per diluted share, in the same period the prior year.

MCHP has been upgraded from Neutral to Buy by brokerage firm Mizuho.

MCHP is a leading provider of microcontroller, mixed-signal, analog and Flash-IP solutions, providing low-risk product development, lower total system cost and faster time to market for thousands of diverse customer applications worldwide.

More about Microchip Technology Inc. (Nasdaq:MCHP) at www.microchip.com .

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VG Life Sciences, Inc. (VGLS)

VGLS reported that the United States Patent and Trademark Office has issued on October 15, 2013 Patent No.: US 8,557,764 covering VGLS ' peptide VG1177 for treating HIV infection.

The VG1177 peptide prevents the survival of pro-inflammatory cells under conditions where inflammation is unwanted, thereby allowing the body's natural containment systems to provide protection from harm.

The hallmarks of chronic HIV infections are chronic inflammation and loss of CD4 T cells. Thus this patent may have important implications for treating inflammation associated with HIV infection and AIDS.

The patent will be issued to the University of Colorado and has been licensed exclusively to VGLS as a result of the invention filed by VGLS ' Lead Scientist, Dr. M. Karen Newell Rogers, PhD, during her tenure at the University of Colorado Colorado Springs.

The patent abstract reads as follows:

"The invention relates to methods for modulating the immune function through targeting of CLIP molecules as well as gamma delta T cells. The result is wide range of new therapeutic regimens for treating, inhibiting the development of, or otherwise dealing with, a multitude of illnesses and conditions, including autoimmune disease, transplant and cell graft rejection, cancer, bacterial infection, HIV infection, and AIDS, as well as novel methods of diagnosis and of introducing a treatment regimen into a subject."

VGLS is a biotechnology company focused on developing treatments for patients suffering autoimmune and infectious diseases. VGLS controls over 50 US and international patents and patents pending protecting its exclusive biotech platform technologies.

More about VG Life Sciences, Inc. (VGLS) at www.vglifesciences.com

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