SEMTECH UPBEAT ON EARNINGS.Byline: Jason Takenouchi Staff Writer Nearly a year after the Asian crisis battered bat·ter 1 v. bat·tered, bat·ter·ing, bat·ters v.tr. 1. To hit heavily and repeatedly with violent blows. 2. To subject to repeated beatings or physical abuse. 3. semiconductor maker Semtech Corp., the Newbury Park firm is on the rebound rebound (rē´bownd), n/v 1. a recovery from illness. n 2. an outbreak of fresh reflex activity after withdrawal of a stimulus rebound adjective . The company has said it expects to beat analysts' projections in its earnings report for the quarter that ended Aug. 1, which will be released after the close of markets today. The consensus of analysts surveyed by First Call Corp. is 31 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . Last year, the company reported second quarter earnings of 24 cents a share on revenues of $24.6 million. The company's stock has already experienced a stunning turnaround Turnaround A situation where a company that has had poor performance for an extended period of time experiences a positive reversal. Notes: A speculator may profit from a turnaround if he or she accurately anticipates the improvement of a poorly performing company. , rising from a low of around $10.375 last year to a high of $70.75 this month. ``They've come back quite nicely since the correction of 1998,'' said Arun Veerappan, an analyst with BancBoston Robertson Stephens. Veerappan said Semtech has benefited from the booming demand for switches and regulators for under-$1,000 computers, where the firm has a relatively high market share, and for voltage suppression suppression /sup·pres·sion/ (su-presh´un) 1. the act of holding back or checking. 2. sudden stoppage of a secretion, excretion, or normal discharge. 3. products that protect circuits from voltage surges. Veerappan estimated the company would announce earnings of 31 cents a share for the second quarter on revenues of $35.7 million. For the year ending in January 2000, he estimated earnings of $1.29 a share on revenues of $149 million. The company announced July 28 that it would beat analysts' forecasts for the quarter ending Aug. 1. Semtech shares closed at $68 Monday, up 50 cents on lower-than-average trading volume Trading volume The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares. . |
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