SMTC FY 2018 Earnings Report — Semtech Corporation Revenue & Financial Results | Market Cap Arena

Semtech CorporationSMTC

FY 2018 Earnings

Reported March 22, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$588M	—	$544M	—	8.0%
Op. Income	$79M	—	$60M	—	31.5%
Gross Margin	55.1%	—	55.0%	—	0.1pp
Net Margin	6.2%	—	10.0%	—	-3.8pp
EPS (Diluted)	$0.51	—	$0.83	—	-38.6%
Free Cash Flow	$70M	—	$85M	—	-16.8%

Revenue Flow

Item	Amount
REVENUE	$588M
Cost of Revenue	$264M
GROSS PROFIT	$324M
R&D Expenses	$105M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$140M
Other Expenses	$0
Operating Expenses	$245M
Cost & Expenses	$508M
OPERATING INCOME	$79M
Interest Income	$0
Interest Expense	$8M
Other Income/Expenses	-$20M
INCOME BEFORE TAX	$60M
Income Tax Expense	$23M
Net Income from Continuing Ops	$36M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$36M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$36M
D&A	$49M
EBIT	$79M
EBITDA	$128M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$588M
Cost of Revenue	$264M
GROSS PROFIT	$324M
R&D Expenses	$105M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$140M
Other Expenses	$0
Operating Expenses	$245M
Cost & Expenses	$508M
OPERATING INCOME	$79M
Interest Income	$0
Interest Expense	$8M
Other Income/Expenses	-$20M
INCOME BEFORE TAX	$60M
Income Tax Expense	$23M
Net Income from Continuing Ops	$36M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$36M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$36M
D&A	$49M
EBIT	$79M
EBITDA	$128M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$36M
Depreciation & Amortization	$49M
Stock-Based Compensation	$48M
Deferred Income Tax	$15M
Other Non-Cash Items	$1M
Change in Working Capital	-$44M
OPERATING CASH FLOW	$106M
Capital Expenditure	-$35M
Acquisitions (Net)	-$18M
Purchases of Investments	-$19M
Sales/Maturities of Investments	$6M
Other Investing Activities	$6M
NET CASH FROM INVESTING	-$60M
Net Debt Issuance	-$15M
Common Stock Repurchased	-$15M
Common Dividends Paid	$0
Other Financing Activities	-$5M
NET CASH FROM FINANCING	-$35M
FREE CASH FLOW	$70M
Net Change in Cash	$11M

Balance Sheet

Item	Amount
Cash & Equivalents	$308M
Short-Term Investments	$0
Net Receivables	$53M
Inventory	$71M
Other Current Assets	$17M
TOTAL CURRENT ASSETS	$461M
PP&E (Net)	$125M
Goodwill	$342M
Intangible Assets	$60M
Long-Term Investments	$47M
Tax Assets	$4M
Other Non-Current Assets	$47M
TOTAL NON-CURRENT ASSETS	$625M
TOTAL ASSETS	$1.1B
Account Payables	$37M
Short-Term Debt	$15M
Deferred Revenue	$13M
Other Current Liabilities	$37M
TOTAL CURRENT LIABILITIES	$126M
Long-Term Debt	$211M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$15M
Other Non-Current Liabilities	$69M
TOTAL NON-CURRENT LIABILITIES	$295M
TOTAL LIABILITIES	$421M
Common Stock	$785.0K
Additional Paid-In Capital	$415M
Retained Earnings	$502M
Treasury Stock	-$252M
Accum. Other Comp. Income	-$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$665M
Minority Interest	$0
TOTAL EQUITY	$665M
TOTAL LIABILITIES & EQUITY	$1.1B
Total Debt	$227M
Net Debt	-$81M