Semtech Announces Fourth Quarter and Fiscal Year 2020 Results

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[{"type":"text","content":" CAMARILLO, Calif.--(BUSINESS WIRE)--\nSemtech Corporation (Nasdaq: SMTC), a leading supplier of high performance analog and mixed-signal semiconductors and advanced algorithms, today reported unaudited financial results for its fourth quarter and fiscal year 2020, which ended January 26, 2020.\n\n\nHighlights for the Fourth Quarter and Fiscal Year 2020\n\n\n\nQ4 FY2020 net sales of $138.0 million, GAAP EPS of $0.04 and non-GAAP EPS of $0.40\n\n\nFY2020 net sales of $547.5 million, GAAP EPS of $0.47 and non-GAAP EPS of $1.52\n\n\nCash flow from operations was $45.3 million, or 33% of net sales, in Q4 FY2020 and was $118.6 million, or 22% of net sales, in FY2020\n\n\nRefinanced the prior credit facility with a new $600.0 million revolving credit facility\n\n\nRepurchased 0.5 million shares for $27.6 million in Q4 FY2020 and 1.5 million shares for $70.2 million in FY2020\n\n\n\nResults on a GAAP basis for the Fourth Quarter and Fiscal Year 2020\n\n\n($ in millions, except for earnings per diluted share data)\n\n\n\n\n \n\n\n\n \n\n\n\nQ4 FY2020\n\n\n\n \n\n\n\nFY2020\n\n\n\n\n\nNet Sales\n\n\n\n \n\n\n\n$\n\n\n\n138.0\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n547.5\n\n\n\n \n\n\n\n\n\nGAAP Gross Margin\n\n\n\n \n\n\n\n61.1\n\n\n\n%\n\n\n\n \n\n\n\n61.5\n\n\n\n%\n\n\n\n\n\nGAAP SG&A Expense\n\n\n\n \n\n\n\n$\n\n\n\n43.0\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n163.1\n\n\n\n \n\n\n\n\n\nGAAP R&D Expense\n\n\n\n \n\n\n\n$\n\n\n\n27.4\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n107.4\n\n\n\n \n\n\n\n\n\nGAAP Operating Expense\n\n\n\n \n\n\n\n$\n\n\n\n74.1\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n284.7\n\n\n\n \n\n\n\n\n\nGAAP Operating Margin\n\n\n\n \n\n\n\n7.4\n\n\n\n%\n\n\n\n \n\n\n\n9.5\n\n\n\n%\n\n\n\n\n\nGAAP Net Income Attributable To Common Stockholders\n\n\n\n \n\n\n\n$\n\n\n\n2.9\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n31.9\n\n\n\n \n\n\n\n\n\nGAAP Earnings Per Diluted Share\n\n\n\n \n\n\n\n$\n\n\n\n0.04\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.47\n\n\n\n \n\n\n\n\n\n\n\nTo facilitate a complete understanding of comparable financial performance between periods, the Company also presents performance results that exclude certain non-cash items and items that are not considered reflective of the Company’s core results over time. These non-GAAP financial measures exclude certain items and are described below under “Non-GAAP Financial Measures.”\n\n\nResults on a Non-GAAP...

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