Semtech’s 1st-Quarter Earnings Rise to $156,000; Revenue Up 12%

Semtech announced earnings of $156,000 in the first quarter that ended May 2, $60,000 of which came from tax benefits. In the same period a year earlier, the Newbury Park electronics company earned $8,000.

Semtech said revenue increased 12% to $3.5 million. The company said the improved earnings came from higher revenue and lower manufacturing costs.