Semtech Corp., a Newbury Park-based manufacturer of regulators and switches for electronic devices, reported sharp earnings increases for the fourth quarter and year that ended Dec. 31.
For the quarter, Semtech posted a profit of $569,000, compared to earnings of $70,000 in the same three-month period a year earlier. Fourth-quarter revenues climbed to $7.67 million, up 43% from $5.36 million a year earlier.
For the year, Semtech reported a profit of $1.19 million on sales of $25.8 million, compared to earnings of $95,000 on sales of $21.3 million a year earlier.
Semtech attributed the improved results to increased orders from personal computer manufacturers and telecommunications customers, and the company said it launched more than a dozen new products during the fourth quarter for desktop and notebook computer applications.