CAMARILLO, Calif. (AP) — CAMARILLO, Calif. (AP) — Semtech Corp. (SMTC) on Wednesday reported a loss of $382 million in its fiscal second quarter.
The Camarillo, California-based company said it had a loss of $5.97 per share. Earnings, adjusted for asset impairment costs and non-recurring costs, were 11 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The chipmaker posted revenue of $238.4 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $237.1 million.
For the current quarter ending in October, Semtech expects its results to range from a loss of 22 cents per share to a loss of 9 cents per share.
The company said it expects revenue in the range of $190 million to $210 million for the fiscal third quarter.