Semtech Q2 Adj. Profit Tops View; Issues Q3 Outlook - Quick Facts

(RTTNews) - Semtech Corporation (SMTC) Wednesday reported second-quarter net income of $17.9 million or $0.26 per share, compared to $19.1 million or $0.28 per share in the same period last year.

Adjusted earnings for the quarter were $28.3 million or $0.42 per share, down from $35.8 million or $0.52 per share in the year-ago period. On average, nine analysts polled by Thomson Reuters expected the company to earn $0.39 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues decreased 12 percent to $145.74 million from $165.01 million last year, while seven analysts expected revenues of $142.20 million.

Looking ahead to the third quarter of fiscal 2015, the company has forecast earnings in the range of $0.22 to $0.30 per share, adjusted earnings in the range of $0.42 to $0.48 per share and net sales in the range of $142 million to $152 million.

Analysts currently expect the company to report third quarter earnings of $0.46 per share on revenues of $152.47 million.