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Semtech Announces Third Quarter of Fiscal Year 2022 Results
CAMARILLO, Calif.--(BUSINESS WIRE)-- Semtech Corporation (Nasdaq: SMTC), a leading supplier of high performance analog and mixed-signal semiconductors and
About this update from Semtech Corporation
[{"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 third quarter of fiscal year 2022, which ended October 31, 2021.\n\nHighlights for the Third Fiscal Quarter 2022\n\n\nRecord net sales of $194.9 million, an increase of 5% sequentially and 27% year-over-year\n\n\nRecord GAAP and non-GAAP gross margin of 63.5% and 63.8%, respectively\n\n\nRecord GAAP and non-GAAP diluted earnings per share of $0.53 and $0.74, respectively\n\n\nRecord Wireless and Sensing products group net sales driven by record LoRa® net sales\n\n\nRecord Signal Integrity products group net sales driven by record 10G PON net sales\n\n\nProtection products group net sales increased 14% sequentially, led by record broad-based industrial net sales\n\n\nRecord operating cash flow of $66.5 million or 34.1% of Q3 FY2022 net sales\n\n\nRepurchased 387,163 shares for $30.0 million during Q3 FY2022\n\n\nResults on a GAAP basis for the Third Fiscal Quarter 2022\n\n\nNet sales were $194.9 million\n\n\nGAAP Gross margin was 63.5%\n\n\nGAAP SG&A expense was $47.6 million\n\n\nGAAP R&D expense was $37.3 million\n\n\nGAAP Operating margin was 19.2%\n\n\nGAAP Net income attributable to common stockholders was $34.4 million or $0.53 diluted earnings per share\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\nResults on a Non-GAAP basis for the Third Fiscal Quarter 2022 (see the list of non-GAAP financial measures and the reconciliation of these to the most comparable GAAP measures set forth in the tables below under \"Supplemental Information: Reconciliation of GAAP to Non-GAAP Results\")\n\n\nNon-GAAP Gross margin was 63.8%\n\n\nNon-GAAP SG&A expense was $34.2 million\n\n\nNon-GAAP R&D expense was $33.3 million\n\n\nNon-GAAP Operating margin was 29.2%\n\n\nNon-GAAP Net income attributable to common stockholders was $48.3 million or $0.74 diluted earnings per share\n\n\nMoh...