CAMARILLO, Calif. (AP) _ Semtech Corp. (SMTC) on Wednesday reported fiscal second-quarter net income of $16.1 million.
On a per-share basis, the Camarillo, California-based company said it had net income of 24 cents. Earnings, adjusted for one-time gains and costs, came to 43 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.
The chipmaker posted revenue of $143.7 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $142.1 million.
For the current quarter ending in November, Semtech expects its per-share earnings to range from 43 cents to 49 cents.
The company said it expects revenue in the range of $145 million to $155 million for the fiscal third quarter.
Semtech shares have climbed 19% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $62.90, a rise of 45% in the last 12 months.