Semtech Corp. Reports Record Income, Revenues

Semtech Corp. in Newbury Park announced record net income of $2.55 million or 38 cents per share on record revenues of $19.38 million for the fourth quarter ended Jan. 26.

For the comparable quarter last year, the semiconductor company earned $2.54 million or 40 cents a share on revenues of $17.65 million. Revenues for all of fiscal 1997 were a record $65.38 million.

Net income for fiscal 1997 also reached record levels at $7.65 million, and income per share totaled $1.16. For the prior fiscal year, the company had revenues of $61.68 million and net income of $7.53 million, or $1.18 per share.

Jack Poe, president and CEO, said the company “came back strong in the second half [of the year] and we fulfilled our pledge to increase research and development.

“The computer market is very important to the company and this segment is expected to continue to perform well,” Poe added. “However, we believe the growth rate in the communications market segment could surpass the computer segment in fiscal 1998.”