3rd-Quarter Profit at Semtech Rises Sharply

Semtech’s third-quarter profit rose sharply from a year earlier on a 39% increase in revenue. The semiconductor maker, based in Newbury Park, attributed the gain to an industrywide rebound in demand for semiconductors, particularly in Europe.

Net income in the quarter ended Oct. 31 jumped to $305,000, or 11 cents a share, from $41,000, or two cents a share, a year ago. Revenue rose to $4 million from $2.9 million.

For the first nine months of its fiscal year, Semtech’s earnings soared to $693,000, or 26 cents a share, from $5,000 a year earlier. The meager profit a year ago was insufficient to translate into earnings per Semtech common share, of which there are about 2.8 million outstanding.

Nine-month revenue rose 28%, from $8.8 million to $11.3 million.