Semtech Net Income Up 305% for 1st Quarter

Semtech reported record revenue and profit figures for the first quarter that ended May 1. The Newbury Park company said its net income rose 305% to $632,000, or 21 cents a share, compared to $156,000, or 6 cents a share, a year earlier. Revenue was up 42% to $5 million from $3.5 million a year earlier.

The semiconductor-maker attributed its improved performance to an increase in orders and a slight jump in prices for some products.