SMTC - Semtech Non-GAAP EPS of $0.47 in-line revenue of $167.51M beats by $16.05M
2023-03-29 16:19:22 ET
- Semtech press release ( NASDAQ: SMTC ): Q4 Non-GAAP EPS of $0.47 in-line.
- Revenue of $167.51M (-12.1% Y/Y) beats by $16.05M .
- Completed the acquisition of Sierra Wireless, a leading IoT connectivity solution provider, for total purchase price consideration of $1.3 billion
- Semtech, excluding the results of Sierra Wireless ("Semtech Organic"), net sales of $152.5 million, better than the midpoint of the Company's guidance. Sierra Wireless-only post-acquisition net sales of $15.0 million
- Semtech Organic GAAP gross margin of 63.5%, and non-GAAP gross margin of 64.7%
- Record 10G PON net sales LoRa®-enabled net sales of $40.8 million
- Amazon expands their commitment to LoRa with the opening of the Sidewalk network to device makers and developers, as well as new AWS services for LoRa and LoRaWAN®.
- Non-GAAP Q1 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 $47.0 million to $49.0 million
- Non-GAAP R&D expense is expected to be in the range of $50.0 million to $52.0 million
- Non-GAAP normalized tax rate for fiscal year 2024 is expected to be approximately 12%
- Non-GAAP Diluted loss per share is expected to be in the range of $(0.11) to $(0.04)
- Shares -1.12% .
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Semtech Non-GAAP EPS of $0.47 in-line, revenue of $167.51M beats by $16.05M