Semtech Posts Record Sales, Earnings for Quarter

Semtech Corp., the Newbury Park maker of semiconductor products, posted record sales and earnings in the first quarter that ended April 30. Profits surged 625% to $1.09 million from $150,000 in the first quarter last year and revenues ballooned 65% to $9.32 million from $5.65 million a year ago.

The company attributed the growth to its recent shift from military and aerospace markets to commercial markets, particularly those related to personal computers and telecommunications. About 30% of Semtech’s first quarter sales were to military and aerospace customers in contrast to about 50% of sales in last year’s first quarter.