SAN FRANCISCO Analog/mixed-signal semiconductor producer Semtech Corp. Tuesday (Aug. 30) reported fiscal second quarter 2006 net income of $7.4 million, or 10 cents per diluted share, down 57 percent from the net income of $17.4 million, or 22 cents per diluted share, for the second quarter of fiscal 2005.
Semtech (Camarillo, Calif.) reported net sales of $58 million for the fiscal second quarter of 2006, up from the $56.2 million in net sales that the company reported for the first quarter of fiscal 2006, but down from the $68.3 million that the company reported for the same period one year ago.
Semtech's fiscal second quarter performance includes a negative impact of 4 cents per diluted share for acquisition items and settlements, including the June 23 acquisition of Xemics SA, a Swiss-based developer of ultra-low power analog, radio frequency and digital ICs.
"The continued cautious stance being taken by our customers is apparent in the second quarter results," said Jason Carlson, Semtech's president and CEO, in a statement. "So too are the cost reduction initiatives within the supply chains that support the cellular phone and notebook computer end-markets."
Semtech estimates that net sales for the fiscal third quarter, which ends Oct. 30, will be approximately $60 million, while earnings for the third quarter are forecasted to be 13 cents per diluted share.