Semtech Earnings Improve in Q3

High demand for its semiconductors contributed to Semtech Corp. posting positive income results for the third quarter compared to a net loss from a year ago. The Camarillo-based manufacturer reported net income of $23.6 million, or $0.37 per diluted share, on revenues of $123.1 million for the quarter ending Oct. 31. For the same period in 2009, the company had a net loss of $20.9 million, or $0.34 per diluted share, on revenues of $75.1 million. “These results further validate our operating model and ability to identify and leverage secular trends driving growth in our end markets,” said Semtech President and CEO Mohan Maheswaran. Mark R. Madler