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Thursday, Jun 1, 2023

Semtech Sales Increase in Fiscal ’07

Semtech Corp. reported an increase in sales revenue for its 2007 fiscal year, according to selected figures released Friday. The Camarillo-based semiconductor manufacturer had net sales of $252.5 million for the fiscal year ending Jan. 28, 2007. That is a 5.5 percent increase compared to the $239.4 million in revenues for fiscal 2006. Net sales for the fourth quarter of fiscal 2007 were $58 million, down 10 percent from the fourth quarter of 2006 when $64.4 in net sales was reported. The company did not report a net profit or loss or if there was a gain or loss on diluted shares. In May, Semtech was notified by the U.S. Securities and Exchange Commission of an inquiry into its stock options granted since Jan. 1, 1997. The company will restate its financial statements for fiscal years 2002 through 2006 to record a material amount of additional non-cash compensation expense. Additional results for the fourth fiscal quarter will not be available until the restated financial statements have been filed with the Securities and Exchange Commission.

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