Semtech Posts Net Income Increase

Semiconductor manufacturer Semtech Corp. reported a 2.5 percent increase in its net income for the first quarter of fiscal year 2009 when compared to the previous year. The Camarillo company earned net income of $8.1 million, or $0.13 per diluted share, on revenues of 74.4 million for the quarter ending April 27. In the same period in 2007, the company had net income of $7.9 million, or $0.11 per diluted share, on revenues of $60.6 million. New orders exceeded shipments with demand strongest within the industrial, communication and handset end markets. Shares of Semtech closed down at $17.43.