Semtech Corp. Reports 67% Earnings Decline

Semtech Corp., a Newbury Park maker of rectifiers and other precision components for military and commercial markets, reported a 67% decline in earnings in its fiscal second quarter.

For the three months that ended Aug. 1, Semtech earned $50,000, in contrast with $150,000 in net income a year before. Its revenue remained flat with a year earlier, at $5.16 million.

Semtech said orders for military products and prices for those products continue to decline. It also suffered losses at its European subsidiary.

The company reported a loss of $160,000 for the latest six-month period, while its revenue was flat at $10.2 million. It earned $302,000 in the same period a year earlier.