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Semtech Says Sales Up, Restatement Delayed

From Bloomberg News

Semtech Corp., a maker of semiconductors for cellphones, said that second-quarter sales rose 12% to $64.9 million and that Nasdaq granted its request for more time to restate its first-quarter results.

Semtech will not meet the deadline to file the form 10-Q for the second quarter ended July 30, causing another instance of noncompliance with Nasdaq, the Camarillo-based company said Tuesday.

The company said it planned to file all of the restated financial statements for fiscal years 2002 through 2006 with the Securities and Exchange Commission by an extended deadline of Nov. 10. The company also said it would file its most recent first-quarter and second-quarter statements by that date.

Semtech made the announcement after the close of regular trading, when its shares had fallen 7 cents to $12.60. The stock slipped an additional 7 cents in extended trading.

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Shares of Semtech have declined 31% this year.


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