Semtech Announces Third Quarter EPS of $.48

Semtech Corp.

reported un-audited financial results for its third quarter of fiscal year 2011 that ended October 31, 2010. Net revenue for the third quarter of fiscal year 2011 was $123.1 million, up 63.8% percent from the third quarter of fiscal year 2010 and up 8.7% percent from the second quarter of fiscal year 2011. Net income for the third quarter of fiscal year 2011, computed in accordance with U.S. generally accepted accounting principles (GAAP), was $23.6 million or 37 cents per diluted share. This compares to a GAAP net loss of $20.9 million or loss of 34 cents per diluted share in the third quarter of fiscal year 2010 and GAAP net income of $19.7 million or 31 cents per diluted share in the second quarter of fiscal year 2011. Excluding the items listed above, non-GAAP net income for the third quarter of fiscal year 2011 was $30.9 million or 48 cents per diluted share. Non-GAAP net income was $16.2 million or 27 cents per diluted share in the third quarter of fiscal year 2010 and was $26.7 million or 42 cents per diluted share in the second quarter of fiscal year 2011.