Semtech Profit Drops 61% in 1st Quarter; Sales Dip 7%
Semtech, a Newbury Park maker of semiconductors, said its fiscal first-quarter profit tumbled 61% from a year earlier on a 7% decline in sales.
In the three months ended April 30, Semtech’s net income dropped to $247,000 from $632,000 a year earlier, while its sales fell to $4.63 million from $4.99 million.
Semtech’s results have dipped in recent quarters in part because of flat demand for semiconductors generally. But the manufacturer noted that its latest results showed a slight improvement from the fourth quarter of its fiscal year ended Jan. 31, when it earned $220,000.
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