SMTC - Semtech Non-GAAP EPS of $0.02 beats by $0.10 revenue of $236.54M beats by $1.54M

2023-06-07 16:20:50 ET

• Semtech press release ( NASDAQ: SMTC ): Q1 Non-GAAP EPS of $0.02 beats by $0.10 .
• Revenue of $236.54M (+17.0% Y/Y) beats by $1.54M .
• Q2 Outlook: Net sales are expected to be in the range of $233.0 million to $243.0 million
• GAAP Gross margin is expected to be in the range of 42.6% to 44.8%
• GAAP SG&A expense is expected to be in the range of $63.2 million to $65.2 million
• GAAP R&D expense is expected to be in the range of $48.0 million to $50.0 million
• GAAP Intangible amortization expense is expected to be approximately $15.9 million
• GAAP Interest and other expense, net is expected to be approximately $23.2 million
• Fully-diluted share count is expected to be approximately 64.1 million shares
• Share-based compensation is expected to be approximately $12.7 million, categorized as follows: $0.5 million cost of sales, $8.2 million SG&A, and $4.0 million R&D
• Transaction and integration expenses are expected to be approximately $10.0 million
• Capital expenditures are expected to be approximately $11.1 million
• Depreciation expense is expected to be approximately $9.1 million.
• 2024 Outlook: Non-GAAP Gross margin is expected to be in the range of 47.5% to 49.5%
• Non-GAAP SG&A expense is expected to be in the range of $45.0 million to $47.0 million
• Non-GAAP R&D expense is expected to be in the range of $44.0 million to $46.0 million
• Non-GAAP normalized tax rate for fiscal year 2024 is expected to be approximately 12%
• Non-GAAP Diluted (loss) earnings per share is expected to be in the range of $(0.02) to $0.06
• Shares -1.74% .

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