SMTC FY 2013 Earnings Report — Semtech Corporation Revenue & Financial Results | Market Cap Arena

Semtech CorporationSMTC

FY 2013 Earnings

Reported March 28, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$579M	—	$481M	—	20.4%
Op. Income	$41M	—	$98M	—	-58.1%
Gross Margin	49.3%	—	57.7%	—	-8.4pp
Net Margin	7.2%	—	18.5%	—	-11.3pp
EPS (Diluted)	$0.62	—	$1.32	—	-53.0%
Free Cash Flow	$77M	—	$75M	—	2.9%

Revenue Flow

Item	Amount
REVENUE	$579M
Cost of Revenue	$293M
GROSS PROFIT	$285M
R&D Expenses	$120M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$124M
Other Expenses	$0
Operating Expenses	$244M
Cost & Expenses	$538M
OPERATING INCOME	$41M
Interest Income	$404.0K
Interest Expense	$14M
Other Income/Expenses	-$41M
INCOME BEFORE TAX	$249.0K
Income Tax Expense	-$42M
Net Income from Continuing Ops	$42M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$42M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$42M
D&A	$49M
EBIT	$41M
EBITDA	$90M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$579M
Cost of Revenue	$293M
GROSS PROFIT	$285M
R&D Expenses	$120M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$124M
Other Expenses	$0
Operating Expenses	$244M
Cost & Expenses	$538M
OPERATING INCOME	$41M
Interest Income	$404.0K
Interest Expense	$14M
Other Income/Expenses	-$41M
INCOME BEFORE TAX	$249.0K
Income Tax Expense	-$42M
Net Income from Continuing Ops	$42M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$42M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$42M
D&A	$49M
EBIT	$41M
EBITDA	$90M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$42M
Depreciation & Amortization	$49M
Stock-Based Compensation	$25M
Deferred Income Tax	-$48M
Other Non-Cash Items	$41M
Change in Working Capital	-$8M
OPERATING CASH FLOW	$102M
Capital Expenditure	-$25M
Acquisitions (Net)	-$492M
Purchases of Investments	-$27M
Sales/Maturities of Investments	$112M
Other Investing Activities	-$408M
NET CASH FROM INVESTING	-$431M
Net Debt Issuance	$330M
Common Stock Repurchased	-$8M
Common Dividends Paid	$0
Other Financing Activities	$3M
NET CASH FROM FINANCING	$325M
FREE CASH FLOW	$77M
Net Change in Cash	-$4M

Balance Sheet

Item	Amount
Cash & Equivalents	$223M
Short-Term Investments	$5M
Net Receivables	$69M
Inventory	$75M
Other Current Assets	$26M
TOTAL CURRENT ASSETS	$406M
PP&E (Net)	$102M
Goodwill	$394M
Intangible Assets	$206M
Long-Term Investments	$8M
Tax Assets	$34M
Other Non-Current Assets	$22M
TOTAL NON-CURRENT ASSETS	$765M
TOTAL ASSETS	$1.2B
Account Payables	$52M
Short-Term Debt	$48M
Deferred Revenue	$4M
Other Current Liabilities	$29M
TOTAL CURRENT LIABILITIES	$158M
Long-Term Debt	$282M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$2M
Other Non-Current Liabilities	$34M
TOTAL NON-CURRENT LIABILITIES	$319M
TOTAL LIABILITIES	$476M
Common Stock	$785.0K
Additional Paid-In Capital	$356M
Retained Earnings	$538M
Treasury Stock	-$201M
Accum. Other Comp. Income	$353.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$695M
Minority Interest	$0
TOTAL EQUITY	$695M
TOTAL LIABILITIES & EQUITY	$1.2B
Total Debt	$331M
Net Debt	$108M