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Semtech Posts Q3

CAMARILLO, Calif. — Semtech Corp. (Nasdaq: SMTC), a leading supplier of analog and mixed-signal semiconductors, reported un-audited financial results for its third quarter of fiscal year 2011 that ended October 31, 2010.

“Semtech delivered another quarter of record-setting revenue, gross margin, operating profit and earnings per share. Continued demand for our solutions resulted in sequential growth across all product lines. These results further validate our operating model and ability to identify and leverage secular trends driving growth in our end markets.”

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.

GAAP gross profit margin for the third quarter of fiscal year 2011 was 60.0 percent compared to 55.1 percent in the third quarter of fiscal year 2010 and 59.6 percent in the second quarter of fiscal year 2011.

{complink 4863|Semtech Corp.}

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