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December 2, 2010

Semtech Q3 net sales up 64%

Expects Q4 net sales to range between $110m and $116m

By CBR Staff Writer

Semtech, a supplier of analogue and mixed-signal semiconductors, has reported net sales of $123.1m for the third quarter of fiscal year 2011, an increase of 64% as compared to $75.1m of the same period last fiscal.

For the quarter ended 31 October 2010, the company reported an operating income of $27.5m, as compared to $12.1m in the same period last year.

Semtech posted a net income of $24m and $0.37 EPS, as compared to net loss of $21m and loss of $0.34 EPS of the same period last year.

Semtech president and chief executive officer Mohan Maheswaran said the company delivered another quarter of record-setting revenue, gross margin, operating profit and earnings per share.

"Continued demand for our offerings resulted in sequential growth across all product lines and these results further validate our operating model and ability to identify and leverage secular trends driving growth in our end markets," Maheswaran said.

Semtech expects net sales to range between $110m and $116m, and earning per share to range between $0.28 and $0.32 for the fourth quarter of fiscal year 2011.

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