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Technology Stocks : Semtech (Nasdaq:SMTC)

SMTC 75.92

+0.8%

Dec 23 3:59 PM EST

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To: Stu Bishop who wrote (824)	5/25/1999 5:05:00 PM
From: Stu Bishop	of 1225

Threaders, Sounds like a very good report. Some excerpts I especially liked (turns out it's almost the whole darned thing): "...demand for its products was strong throughout the quarter and has remained strong during the first three weeks of May. New orders increased 16 percent compared with the fourth quarter of fiscal year 1999." "...A record 16 new product families were introduced during the first quarter of fiscal 2000, of which eight address new applications. Design-in activity was also at record levels during the quarter, with 185 new design wins being recorded." "We are beginning to realize the benefits of our aggressive ramp in R&D spending during the last two fiscal years. Semtech has experienced a favorable shift towards proprietary new products that have higher gross margins." "... plan to diversify into fast-growing markets, significant progress was made in expanding our presence in the communications and portable-equipment markets during the first quarter." "...we currently project sequential revenue growth in the high-single- digit range for the second quarter. Based on current business trends, the company could grow at a higher rate during the third quarter of fiscal year 2000." "...approved the repurchase of up to $10 million of its common stock. During February and March 1999, the company repurchased 227,500 shares at a cost of $6.6 million. The company plans to complete this repurchase within the next 60 days." Just for grins, if you extrapolate 8% sequential growth (upper single digit growth) over a years time, that's 36%. Using 9% sequentially gives 41%. Not a bad outlook! I might just hold my shares. Best of luck to us all. Stu B.

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