Semtech Corporation has reported net revenue for the fourth quarter of fiscal year 2013 was $150.6 million, up 44.8 percent from the fourth quarter of fiscal year 2012 and down 6.4 percent from the third quarter of fiscal year 2013. Net revenue for the full fiscal year 2013 was $578.8 million, up 20.4 percent from fiscal year 2012. Semtech had acquired another semiconductor company Gennum in early 2012.
Semtech reports: Net income for the fourth quarter of fiscal year 2013, computed in accordance with U.S. generally accepted accounting principles (GAAP), was $13.1 million or 19 cents per diluted share. This compares to GAAP net income of $12.4 million or 19 cents per diluted share in the fourth quarter of fiscal year 2012 and GAAP net income of $16.6 million or 25 cents per diluted share in the third quarter of fiscal year 2013. For the full fiscal year 2013, net income was $41.9 million or $0.62 per diluted share, down from $89.1 million or $1.32 per diluted share in fiscal year 2012.
Mohan Maheswaran, Semtech's President and Chief Executive Officer, stated, "Fiscal year 2013 was a pivotal year for Semtech. We closed and successfully integrated the largest acquisition in company history and posted record revenue, gross profit and cash flow. Our innovative product platforms, strategic customer relationships, and fiscal discipline have positioned Semtech to benefit from the continuing improvement in the economy and ongoing strength in the high-growth markets we are targeting."
First Quarter of Fiscal Year 2014 Outlook by Semtech is net sales are expected to be in the range of $154.0 million to $162.0 million