Semtech’s 2nd-Quarter Revenue Increases 28%
Semtech Corp., a Newbury Park-based maker of electronics components, reported a sharp increase in earnings for the second quarter that ended July 31.
The company reported net income of $273,000 in the latest quarter, compared to a profit of $50,000 in the year-earlier quarter. Revenue in the second quarter was $6.59 million, up 28% from $5.16 million for the same three-month period in 1993.
For its six-month period, the company reported income of $423,000 on revenue of $12.2 million, compared to a year-earlier loss of $160,000 on revenue of $10.2 million.
Semtech attributed the results to increased sales volume fueled by the success of new products, which accounted for 20% of orders received in the latest quarter.