Semtech Corp.’s Earnings Soar in 3rd Quarter

Semtech Corp.’s earnings in the third quarter jumped six-fold while its sales doubled.

The Newbury Park-based semiconductor company posted net income of $1.9 million in the quarter that ended Oct. 29, compared to a profit of $302,000 in the same period a year earlier. Sales in the latest quarter doubled to $16.58 million, up from $8.32 million a year ago.

The company attributed part of its improved results to the acquisition in January of ECI Semiconductor, and rising semiconductor sales to clients in the computer, telecommunications and automotive industries.

For the nine months, Semtech’s profits jumped to $4.98 million, compared to $701,000 a year ago. The company’s sales in the nine months almost doubled to $44 million, up from $24.3 million a year earlier.