Semtech Corp Reveals Fall In Q3 Profit, misses estimates

(RTTNews) - Semtech Corp (SMTC) revealed earnings for third quarter that decreased from last year and missed the Street estimates.

The company's bottom line totaled $22.7 million, or $0.36 per share. This compares with $34.4 million, or $0.53 per share, in last year's third quarter.

Analysts on average had expected the company to earn $0.63 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 15.1% to $177.6 million from $209.3 million last year.

Semtech Corp earnings at a glance (GAAP) :

-Earnings (Q3): $22.7 Mln. vs. $34.4 Mln. last year. -EPS (Q3): $0.36 vs. $0.53 last year. -Analyst Estimates: $0.63 -Revenue (Q3): $177.6 Mln vs. $209.3 Mln last year.

-Guidance: Next quarter EPS guidance: $0.20-$0.27 Next quarter revenue guidance: $145-155 mln Full year EPS guidance: $0.44-$0.52