Semtech Corp Bottom Line Drops 61% In Q3

(RTTNews) - Semtech Corp (SMTC) revealed a profit for third quarter that fell compared to the same period last year.

The company said its profit declined to $12.10 million, or $0.19 per share. This was down from $30.85 million, or $0.46 per share, in last year's third quarter.

Analysts had expected the company to earn $0.24 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 22.2% to $115.81 million. This was down from $148.89 million last year.

Semtech Corp earnings at a glance:

-Earnings (Q3): $12.10 Mln. vs. $30.85 Mln. last year. -Earnings Decline (Y-o-Y): -60.8% -EPS (Q3): $0.19 vs. $0.46 last year. -EPS Decline (Y-o-Y): -58.7% -Analysts Estimate: $0.24 -Revenue (Q3): $115.81 Mln vs. $148.89 Mln last year. -Revenue Change (Y-o-Y): -22.2%

-Guidance: Next quarter EPS guidance: $0.14 - $0.18 Next quarter revenue guidance: $113 - $119 Mln