Semtech Issues 3rd-quarter Profit, Sales Outlook

CAMARILLO, Calif. (AP) — Semiconductor maker Semtech Corp. on Wednesday forecast fiscal 2010 third-quarter earnings of 12 cents to 14 cents per share, including one-time items such as restructuring charges and other costs, and sequential sales growth of 6 to 10 percent.

The outlook implies sales of $70.3 million to $72.9 million.

Analysts polled by Thomson Reuters, on average, expect profit of 18 cents per share on $67.8 million in sales. Analyst estimates typically exclude one-time charges and gains, so the projections aren't directly comparable.

The company also Wednesday reported a 36 percent drop in second-quarter earnings on lower sales and interest income.

Shares fell 34 cents to reach $17.19 in aftermarket trading, having earlier closed the regular session up 6 cents at $17.53.