Semtech Q3 Profit Down - Quick Facts

(RTTNews) - Semtech Corp. (SMTC) Monday reported third-quarter profit of $12.5 million or $0.18 per share, down from $16.6 million or $0.25 per share in the same period last year.

Adjusted earnings for the quarter was $24.1 million or $0.35 per share. On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.34 per share for the quarter. Analysts' estimates typically exclude special items.

Sales decreased to $141.03 million from $160.88 million last year. Analysts expected sales of $140.67 million.

Looking ahead to the fourth quarter, the company has forecast earnings in the range of $0.09 to $0.18 per share, with adjusted earnings ranging between $0.29 to $0.37 per share.

Revenues are expected to be in the range of $132.0 million to $144.0 million. Analysts currently expect the company to report fourth-quarter earnings of $0.35 per share on revenues of $140.15 million.