Semtech Reports 40% Drop in Profit in 4th Quarter

Semtech said it earned $220,000 in the fourth quarter that ended Jan. 29, down 40% from profits of $366,000 in the same period a year earlier. Revenue increased 3% to $4.5 million from $4.4 million a year earlier.

The Newbury Park company makes semiconductors and other electronic components.

For the year that ended Jan. 29, Semtech said it earned $1.7 million, a 59% jump from $1.1 million a year earlier. Revenue was a record $19.1 million compared to $15.6 million a year ago.