Semtech Reports Doubling of Profit in 2nd Quarter

Semtech, a Newbury Park maker of semiconductors and other electronic components, said its fiscal second-quarter profit more than doubled from a year earlier on a 25%revenue gain.

The company’s net income for the quarter that ended July 31 rose to $525,000, or 17 cents a share, from $232,000, or 8 cents a share, a year earlier. Revenue increased to $4.7 million from $3.8 million.

Semtech attributed the improvement to stronger demand for its products and its ability to bring products to market faster. In the quarter, Semtech’s new orders jumped 56%to $5.6 million from $3.6 million a year earlier.

For the first half of 1988, Semtech’s profit soared to $1.16 million, or 38 cents a share, from $388,000, or 15 cents a share, a year ago. Six-month revenue rose 33%to $9.70 million from $7.3 million.