UPDATE 1-Semtech Q2 profit beats Street; outlook strong
* Q2 adj EPS $0.42 vs est $0.39
* Revenue $113.2 mln vs est $110.8 mln
* Sees Q3 adj EPS above estimates
* Shares up 5 pct in after-market trade
Aug 25 (Reuters) - Chipmaker Semtech Corp (SMTC.O) posted a better-than-expected second-quarter profit, boosted by strong demand at its communications, consumer and industrial end markets, and forecast third-quarter earnings above Wall Street expectations.
Shares of company, whose customers include Samsung Electronics Co Ltd (005930.KS) and Frontek Technology Corp, were up 5 percent at $17.76 in trading after the bell.
The supplier of analog and mixed-signal semiconductors, whose rivals include Linear Technology Corp (LLTC.O), Maxim Integrated Products (MXIM.O), National Semiconductor Corp (NSM.N) and Texas Instruments Inc TXN.N, expects third-quarter adjusted profit of $0.45-$0.47 a share.
Analysts were looking for earnings of 41 cents a share, according to Thomson Reuters I/B/E/S.
For the second quarter ended Aug. 1, net income rose to $19.7 million, or 31 cents a share, from $7.4 million, or 12 cents a share, a year earlier.
Excluding special items, it earned 42 cents a share, beating market estimates of 39 cents a share.
Revenue rose 71 percent to $113.2 million, above analysts' expectations of $110.8 million.
The Camarillo, California-based company's stock, which has lost 8 percent of its value in the last 52 weeks, closed at $16.91 Wednesday on Nasdaq. (Reporting by Swati Chitnis, S. John Tilak in Bangalore; Editing by Anne Pallivathuckal)
- Russia criticizes EU sanctions, raps U.S. over Ukraine role
- First Ebola victim in Sierra Leone capital on the run
- Short Gaza truce takes hold; many bodies pulled from rubble |
- Amazon's far-reaching ambitions, lack of profits, unnerve investors |
- Apple iPhones allow extraction of deep personal data, researcher finds