Semtech Posts a Profit; Work-Force Trims Cited
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Semtech, citing cost savings resulting from cuts in its work force, said it earned $8,000 in the first quarter ended May 3, an improvement from a loss of $328,000 in the same quarter a year earlier.
Sales for the Newbury Park-based semiconductor maker rose 3% in the quarter to $3.1 million.
Semtech President Jack Poe said the firm has trimmed its employment, largely through dismissals, to 260 from about 340 a year ago. He said that helped reduce operating expenses by $126,000 during the quarter.
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