Semtech Profit Misses Estimates; Q2 Outlook Weak

(RTTNews) - Semiconductor company Semtech Corp (SMTC) on Wednesday reported first-quarter net loss of $142 thousand or $0.00 per share compared with a profit of $7.9 million or $0.12 per share last year.

Excluding items, adjusted earnings for the quarter were $0.27 per share compared with $0.32 per share a year ago.

Revenues for the quarter were lower at $130.1 million compared with $132.9 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.28 per share on revenues of $132.5 million for the quarter. Analysts' estimates typically exclude special items.

For the second quarter, the company expects adjusted earnings of $0.21 to $0.26 per share on revenues of $120 million to $130 million. Analysts expect earnings of $0.37 per share on revenues of $141.7 million.