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Semtech Files Form 12b-25 and Will Reschedule Its Second Quarter of Fiscal Year 2024 Earnings Release and Conference Call
CAMARILLO, Calif.--(BUSINESS WIRE)-- Semtech Corporation (Nasdaq: SMTC), a high-performance semiconductor, IoT systems, and cloud connectivity service
About this update from Semtech Corporation
[{"type":"text","content":" CAMARILLO, Calif.--(BUSINESS WIRE)--\nSemtech Corporation (Nasdaq: SMTC), a high-performance semiconductor, IoT systems, and cloud connectivity service provider, announced today that it has filed a Notification of Late Filing on Form 12b-25 with the Securities and Exchange Commission (“SEC”) as it has determined that it will be unable to file its Form 10-Q for the period ended July 30, 2023 (“Q2 Form 10-Q”) by its original due date of September 8, 2023. In addition, the Company will reschedule its earnings release and investor conference call for its second quarter of fiscal year 2024, previously scheduled for Thursday, September 7, 2023.\n\n\nDuring the second quarter of fiscal year 2024, the Company determined it was required to perform an interim goodwill impairment test using a quantitative assessment. Despite working diligently in an effort to timely file its Q2 Form 10-Q, as of the date of this press release, the goodwill impairment assessment is not complete and is not expected to be completed by the original due date of the Q2 Form 10-Q. Additionally, the Company is working diligently to complete certain procedures to conclude whether a valuation allowance is to be recorded against certain deferred tax assets. These assessments require significant resources from the Company’s financial, accounting and administrative personnel and, as a result, the Company requires additional time to complete the assessment and finalize the Q2 Form 10-Q.\n\n\nThe Company expects to file its Q2 Form 10-Q with the SEC as soon as practicable, and no later than September 13, 2023, in accordance with Rule 12b-25. The Company will make a subsequent announcement to schedule the date and time of its second quarter of fiscal year 2024 earnings release and conference call.\n\n\nFor more information, refer to the Form 12b-25 filed with the SEC on September 6, 2023, which is available under SEC Filings on Semtech’s website at https://investors.semtech.com under NT 10-Q. The filing is also available directly at the SEC’s website at www.sec.gov.\n\n\nAbout Semtech\n\n\nSemtech Corporation (Nasdaq: SMTC) is a high-performance semiconductor, IoT systems, and cloud connectivity service provider dedicated to delivering high-quality technology solutions that enable a smarter, more connected, and sustainable planet. Our global teams are committed to empower...