Semtech Profit Declines 22% for 3rd Quarter

Semtech Corp., a Newbury Park maker of electronic components, posted a 22% drop in profit for its fiscal third quarter, citing disappointing orders from European and military customers.

For the three months ended Nov. 1, Semtech earned $113,000 compared to $145,000 for the same period a year earlier. Revenue for the quarter declined 16%, to $5.2 million from $6.2 million.

Through three quarters, the company’s profit was down 58%, to $415,000 from $987,000 a year earlier. Revenue for the nine months ended Nov. 1 totaled $15.4 million, down 27% from the $21 million for the similar period a year ago.