SMTC FY 2016 Earnings Report — Semtech Corporation Revenue & Financial Results | Market Cap Arena

Semtech CorporationSMTC

FY 2016 Earnings

Reported March 31, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$490M	—	$558M	—	-12.1%
Op. Income	$18M	—	$68M	—	-73.1%
Gross Margin	54.7%	—	55.4%	—	-0.7pp
Net Margin	2.3%	—	5.0%	—	-2.7pp
EPS (Diluted)	$0.17	—	$0.41	—	-58.5%
Free Cash Flow	$89M	—	$73M	—	21.5%

Revenue Flow

Item	Amount
REVENUE	$490M
Cost of Revenue	$222M
GROSS PROFIT	$268M
R&D Expenses	$114M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$136M
Other Expenses	$0
Operating Expenses	$250M
Cost & Expenses	$472M
OPERATING INCOME	$18M
Interest Income	$0
Interest Expense	$8M
Other Income/Expenses	$2M
INCOME BEFORE TAX	$20M
Income Tax Expense	$9M
Net Income from Continuing Ops	$11M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$11M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$11M
D&A	$48M
EBIT	$18M
EBITDA	$66M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$490M
Cost of Revenue	$222M
GROSS PROFIT	$268M
R&D Expenses	$114M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$136M
Other Expenses	$0
Operating Expenses	$250M
Cost & Expenses	$472M
OPERATING INCOME	$18M
Interest Income	$0
Interest Expense	$8M
Other Income/Expenses	$2M
INCOME BEFORE TAX	$20M
Income Tax Expense	$9M
Net Income from Continuing Ops	$11M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$11M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$11M
D&A	$48M
EBIT	$18M
EBITDA	$66M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$11M
Depreciation & Amortization	$49M
Stock-Based Compensation	$20M
Deferred Income Tax	-$1M
Other Non-Cash Items	-$12M
Change in Working Capital	$34M
OPERATING CASH FLOW	$102M
Capital Expenditure	-$13M
Acquisitions (Net)	-$39M
Purchases of Investments	-$15M
Sales/Maturities of Investments	$0
Other Investing Activities	-$15M
NET CASH FROM INVESTING	-$67M
Net Debt Issuance	$4M
Common Stock Repurchased	-$57M
Common Dividends Paid	$0
Other Financing Activities	$6M
NET CASH FROM FINANCING	-$54M
FREE CASH FLOW	$89M
Net Change in Cash	-$19M

Balance Sheet

Item	Amount
Cash & Equivalents	$212M
Short-Term Investments	$0
Net Receivables	$44M
Inventory	$64M
Other Current Assets	$16M
TOTAL CURRENT ASSETS	$341M
PP&E (Net)	$101M
Goodwill	$330M
Intangible Assets	$88M
Long-Term Investments	$21M
Tax Assets	$7M
Other Non-Current Assets	$23M
TOTAL NON-CURRENT ASSETS	$570M
TOTAL ASSETS	$912M
Account Payables	$35M
Short-Term Debt	$19M
Deferred Revenue	$9M
Other Current Liabilities	$15M
TOTAL CURRENT LIABILITIES	$104M
Long-Term Debt	$239M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$7M
Other Non-Current Liabilities	$34M
TOTAL NON-CURRENT LIABILITIES	$280M
TOTAL LIABILITIES	$383M
Common Stock	$785.0K
Additional Paid-In Capital	$380M
Retained Earnings	$413M
Treasury Stock	-$266M
Accum. Other Comp. Income	$653.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$528M
Minority Interest	$0
TOTAL EQUITY	$528M
TOTAL LIABILITIES & EQUITY	$912M
Total Debt	$258M
Net Debt	$46M