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Oct 25, 2020
Semtech Q3 2021 Earnings Report
Net sales were at the upper-end of guidance, led by LoRa technology platforms and increasing smartphone demand.
Key Takeaways
Semtech reported Q3 FY2021 results with net sales of $154.1 million, a 7% sequential increase and a 9% year-over-year increase. Diluted GAAP EPS was $0.28, and diluted non-GAAP EPS was $0.47. The company announced a collaboration with Amazon's Sidewalk platform.
Q3 FY2021 net sales of $154.1 million increased 7% sequentially and 9% year-over-year
Q3 FY2021 diluted GAAP EPS of $0.28 and diluted non-GAAP EPS of $0.47
Distributor Point of Sale (POS) increased 8% sequentially and represented a new quarterly record
Wireless and Sensing products group net sales increased 32% sequentially and represented a new record that included record net sales of our LoRa® platform products
Semtech
Semtech
Forward Guidance
Semtech anticipates uncertain negative impact to the Company of the COVID-19 pandemic on global economic conditions and on the Company's business operations, sales and operating results, as well as export restrictions pertaining to Huawei and certain of its affiliates imposed by the U.S. government.
Challenges Ahead
- Net sales are expected to be in the range of $153.0 million to $163.0 million
- GAAP Gross margin is expected to be in the range of 60.5% to 61.6%
- GAAP SG&A expense is expected to be in the range of $43.1 million to $44.1 million
- GAAP R&D expense is expected to be in the range of $30.5 million to $31.5 million
- GAAP Earnings per diluted share are expected to be in the range of $0.22 to $0.29