Semtech Corp. said its net income rose to $12 million or $0.16 per share for the first quarter of its fiscal year 2007, vs. $10.8 million in the year ago period. Net sales for the first quarter ended April 30 rose 17 percent to $65.9 million from $56.2 million in the first quarter of fiscal 2006. The Camarillo-based semiconductor supplier said it expects net sales for the second quarter ending July 30 to range from flat to a 2 percent increase compared to the first quarter. The company also said it expects net income to be in the $0.15 or $0.16 per diluted share range. Excluding stock-based compensation and other costs, Semtech said it would have expected earnings to fall in the range of $0.19 to $0.20 per share in the second quarter.