Semtech Corp Q1 Profit Increases, beats estimates

(RTTNews) - Semtech Corp (SMTC) revealed earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $38.0 million, or $0.59 per share. This compares with $34.8 million, or $0.53 per share, in last year's first quarter.

Excluding items, Semtech Corp reported adjusted earnings of $51.8 million or $0.80 per share for the period.

Analysts on average had expected the company to earn $0.76 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.0% to $202.1 million from $190.6 million last year.

Semtech Corp earnings at a glance (GAAP) :

-Earnings (Q1): $38.0 Mln. vs. $34.8 Mln. last year. -EPS (Q1): $0.59 vs. $0.53 last year. -Analyst Estimate: $0.76 -Revenue (Q1): $202.1 Mln vs. $190.6 Mln last year.

-Guidance: Next quarter EPS guidance: $0.80-$0.90 Next quarter revenue guidance: $203.0-$213.0