Posts operating income of $23m
Semtech, a supplier of analogue and mixed-signal semiconductors, has reported net sales of $113.2m for the second quarter of fiscal year 2011, an increase of 71% as compared to $66.3m of the same period last fiscal.
For the quarter ended 1 August 2010, the company reported an operating income of $23m, as compared to $9m in the same period last year.
Semtech posted a net income of $19.7m and $0.31 EPS, as compared to net income of $7.4m and $0.12 EPS of the same period last year.
Semtech president and chief executive officer Mohan Maheswaran said that the strength they saw in the first quarter of fiscal year 2011 continued into the second quarter, driven by robust demand in their communications, consumer and industrial end markets.
Semtech expects net sales to increase by 6% to 10%, sequentially, and earning per share to range between $0.33 and $0.35 for the third quarter of fiscal year 2011.