Semtech Reverses Loss; in Black for 2nd Quarter
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Semtech earned $232,000 in its fiscal second quarter ended Aug. 1, contrasted with a year-earlier loss of $44,000. The profit, equal to 8 cents a share, included $96,000 in tax benefits and came on a 35% gain in sales from $2.8 million to $3.8 million.
Semtech, a semiconductor maker with headquarters in Newbury Park, said the improvement reflected an increase in orders and the company’s cost-cutting efforts over the last 18 months.
For the first half of its fiscal year, Semtech earned $388,000, or 15 cents a share, contrasted with a $36,000 loss a year ago. Six-month sales rose to $7.3 million, from $5.9 million.
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