CAMARILLO, Calif. (AP) _ Semtech Corp. (SMTC) on Wednesday reported fiscal fourth-quarter net income of $13.3 million, after reporting a loss in the same period a year earlier.
The Camarillo, California-based company said it had net income of 20 cents per share. Earnings, adjusted for one-time gains and costs, were 55 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The chipmaker posted revenue of $160 million in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $159.8 million.
For the current quarter ending in May, Semtech expects its per-share earnings to range from 30 cents to 36 cents.
The company said it expects revenue in the range of $125 million to $135 million for the fiscal first quarter.
Semtech shares have climbed 21 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $55.57, a rise of 59 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SMTC at https://www.zacks.com/ap/SMTC
