Semtech Q4 Results Edge Past Estimates; Outlook Weak

(RTTNews) - Semtech Corp. (SMTC) reported a net loss for the fourth quarter of $15.4 million or $0.23 per share, compared to a net loss of $210.8 million or $3.12 per share for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was $23.1 million or $0.34 per share, compared to $15.5 million or $0.23 per share in the prior year quarter.

Net sales for the fourth quarter rose 3% to $130.39 million from $126.53 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.33 per share on revenue of $130.11 million for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward to the first quarter, the company forecast net sales of $130 million to $136 million, earnings of $0.05 to $0.07 per share and adjusted earnings of $0.27 to $0.30 per share. Analysts currently expect the company to earn $0.37 per share on revenue of $136.40 million for the first quarter.