Semtech Corp. met revenue expectations in the fourth quarter despite a soft market and seasonal trends.

For the quarter ending Jan. 29, Semtech reported net income of $12.4 million, or $0.19 per diluted share, on revenues of $104 million. For the same period in the prior year, the company reported net income of $26 million, or $0.39 per diluted share, on revenues of $116.3 million.

The Camarillo-based semiconductor developer and manufacturer forecast revenues in the range of $102 million to $108 million.

For the full fiscal year, Semtech reported net income of $89 million, or $1.32 per diluted share on revenues of $480.6 million. For the previous fiscal year, the company reported net income of $72.6 million, or $1.12 per diluted share, on revenue of $454.5 million.

“Despite a challenging environment, Semtech posted a record number of design wins, launched 21 new products, and announced plans to acquire Gennum Corporation,” said President and CEO Mohan Maheswaran in a prepared statement. “Semtech’s performance continues to deliver increasing value to shareholders.”

In January, Semtech announced a $500 million deal to buy Gennum, a Canadian company that serves the video broadcast and surveillance, consumer and optical communications markets.

Mark R. Madler