Semtech Expects to Meet 4th-Quarter Estimates

Semtech Corp. in Newbury Park said it expects to achieve analysts’ earnings estimates of 23 cents per share for the fourth quarter ending Jan. 28.

Semtech is forecasting that fourth-quarter revenue will be flat compared with third-quarter levels. Previously, the company’s revenue growth forecast was 7% to 9% for the fourth quarter, compared with the previous quarter.

For all of fiscal year 2001, revenue is now forecast to grow 47% and net income is expected to increase more than 100%, compared with the year before.

Jack Poe, chairman and chief executive officer, said first-quarter revenue is expected to remain flat, with sequential revenue growth resuming in the second quarter of this year.

The semiconductor company expects to release fourth-quarter and fiscal year 2001 results on Feb. 22.