Semtech Earnings Rise During 2nd Quarter
Semtech Corp., a maker of electronic components, said its fiscal second-quarter profit rose sharply from a year earlier. But the Newbury Park concern warned that its business has slowed in recent months.
In the quarter ended Aug. 4, Semtech’s net income jumped to $417,000 from $137,000, while its revenue rose 47%, to $7.16 million from $4.87 million, in part because of its acquisition of Lambda Semiconductors last October.
However, Semtech said demand for its products “was lower in the second quarter than the previous two quarters,” and that “it expects the reduction in order rates to reduce third-quarter revenues and net income.”
For the first half of its fiscal year, Semtech’s profit soared to $842,000 from $192,000, and its six-month revenue rose 59%, to $14.8 million from $9.33 million.