Semtech Announces Fourth-Quarter 2002 ResultsFebruary 25, 2003 by Jeff Shepard
Semtech Corp. (Camarillo, CA) announced results for its fiscal-year 2003 fourth quarter that ended January 26, 2003. Semtech ended fiscal-year 2003 with $247.5 million in cash and marketable securities, net of outstanding debt. Operating cash flow for the fiscal year was $62.7 million and $20.5 million for the fourth quarter.
Sales for the fourth quarter of fiscal-year 2003 were $44.5 million and net income was $8.1 million, or $0.11 per diluted share. Sales for the fourth quarter of fiscal-year 2002 were $46.4 million and net income was $8.7 million, or $0.11 per diluted share. Sales for all of fiscal-year 2003 were $193 million, up from $191.2 million in the prior fiscal year. Net income for fiscal-year 2003 was $42.2 million, or $0.54 per diluted share, which compared to net income of $26 million, or $0.33 per diluted share in fiscal-year 2002.