CAMARILLO, Calif. (AP) — CAMARILLO, Calif. (AP) — Semtech Corp. (SMTC) on Tuesday reported fiscal first-quarter earnings of $26.6 million.
The Camarillo, California-based company said it had net income of 27 cents per share. Earnings, adjusted for one-time gains and costs, were 51 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.
The chipmaker posted revenue of $291 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $283.3 million.
For the current quarter ending in July, Semtech expects its per-share earnings to range from 59 cents to 63 cents.
The company said it expects revenue in the range of $323 million to $333 million for the fiscal second quarter.
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