Semtech Q1 Adj. Profit Tops View; Issues Q2 Outlook - Quick Facts

(RTTNews) - Semtech Corporation (SMTC) Wednesday reported first-quarter net income of $7.9 million or $0.12 per share, compared to $14.8 million or $0.22 per share in the same period last year.

Adjusted earnings for the quarter were $21.8 million or $0.32 per share, down from $31.3 million or $0.46 per share in the year-ago period. On average, nine analysts polled by Thomson Reuters expected the company to earn $0.30 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues decreased 18 percent to $132.86 million from $162.41 million last year, while seven analysts expected revenues of $130.27 million.

Looking ahead to the second quarter of fiscal 2015, the company has forecast earnings in the range of $0.18 to $0.24 per share, adjusted earnings in the range of $0.36 to $0.42 per share and net sales in the range of $138.0 million and $146.0 million.

Analysts currently expect the company to report second quarter earnings of $0.37 per share on revenues of $138.60 million.