Semtech (NASDAQ: SMTC) reported Q3 EPS of $0.63, $0.02 better than the analyst estimate of $0.61. Revenue for the quarter came in at $173.55 million versus the consensus estimate of $173.03 million.

• Non-GAAP Gross margin was 61.7%
• Non-GAAP SG&A expense was $29.8 million
• Non-GAAP R&D expense was $24.5 million
• Non-GAAP Operating margin was 30.4%
• Non-GAAP Net income was $43.1 million or $0.63 per diluted share

Mohan Maheswaran, Semtech’s President and Chief Executive Officer, stated: “We delivered strong results including new quarterly records for net sales, operating profit and non-GAAP EPS, led by record results from our Wireless and Sensing and Signal Integrity Product groups. While we are experiencing headwinds from the mobile market and some broad industry weakness, we do expect another record performance from our LoRa technology platforms in our fiscal fourth quarter and anticipate a record financial performance for fiscal year 2019, driven by growth from the IoT, mobile and data center markets.”

GUIDANCE:

Semtech sees Q4 2019 EPS of $0.53-$0.57, versus the consensus of $0.56. Semtech sees Q4 2019 revenue of $155-165 million, versus the consensus of $167.49 million.

For earnings history and earnings-related data on Semtech (SMTC) click here.