Semtech Posts Record Sales and Income

Semtech Corp. in Newbury Park, a semiconductor supplier, announced record sales and income for the fourth quarter and fiscal year, which ended Jan. 28.

Net sales for the fourth quarter were $69.6 million, an increase of 26% over the previous year’s fourth quarter. Net income for the quarter was $17.6 million, or 23 cents per diluted share, an increase of 75% over the prior-year period.

Sequentially, net sales for the fourth quarter increased 1% and net income grew 5% over the previous quarter.

Net sales for fiscal year 2001 were $256.7 million, up 48% over the prior year. Net income for the year was $60.2 million or 79 cents per diluted share. This is more than double the net income of $29.4 million, or 42 cents per diluted share, in fiscal year 2000.

“Semtech has benefited from its strategic diversification into new markets and now enjoys a near-equal balance between the communications, industrial and computer end markets,” said Jack Poe, chairman and chief executive.