Semtech posted GAAP diluted EPS of USD 1.59, swinging from a loss a year earlier; GAAP operating margin widened 7.4 percentage points to 16.3%.
Net sales rose 17% sequentially to USD 341.9 million, climbing 33% from a year earlier; GAAP gross margin improved 1.8 percentage points to 53.8%.
On a non-GAAP basis, adjusted diluted EPS increased 39% year-over-year to USD 0.71; adjusted operating margin widened 5.6 percentage points to 24.4%.
Management comments and outlook
Management cited record revenue, accelerating bookings, record backlog, and progress on portfolio optimization; it highlighted visibility extending well into next fiscal year.
For Q3, net sales are forecast at USD 410 million plus or minus USD 5 million; non-GAAP adjusted diluted EPS is guided to USD 1.05 plus or minus USD 0.03.
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