Semtech Corp. Beats on Top and Bottom Lines (SMTC)

Semtech Corp.

reports Q2 EPS of $0.42 versus estimates of $0.38. Semtech Corp. reports revenues of $113.2 million versus estimates of $110.60 million. For Q3 FY2011 the company sees non-GAAP EPS of $0.45 to $0.47, cap-ex of ~$9.0 million, and a GAAP tax rate of ~19%. Mohan Maheswaran, Semtech's President and Chief Executive Officer, commented, "The strength we saw in the first quarter of fiscal year 2011 continued into the second quarter, driven by robust demand in our communications, consumer and industrial end markets. In addition, new products continued to gain traction, validating our strategic focus on the key trends that we believe will drive growth for years to come: demand for increased bandwidth, energy efficiency and miniaturization of electronics." Shares of SMTC are higher in the after-hours by 1.71%.