Semtech Files Form 12b-25 and Will Reschedule Its Second Quarter of Fiscal Year 2024 Earnings Release and Conference Call
06 Septiembre 2023 - 4:47PM
Business Wire
Semtech Corporation (Nasdaq: SMTC), a high-performance
semiconductor, IoT systems, and cloud connectivity service
provider, announced today that it has filed a Notification of Late
Filing on Form 12b-25 with the Securities and Exchange Commission
(“SEC”) as it has determined that it will be unable to file its
Form 10-Q for the period ended July 30, 2023 (“Q2 Form 10-Q”) by
its original due date of September 8, 2023. In addition, the
Company will reschedule its earnings release and investor
conference call for its second quarter of fiscal year 2024,
previously scheduled for Thursday, September 7, 2023.
During the second quarter of fiscal year 2024, the Company
determined it was required to perform an interim goodwill
impairment test using a quantitative assessment. Despite working
diligently in an effort to timely file its Q2 Form 10-Q, as of the
date of this press release, the goodwill impairment assessment is
not complete and is not expected to be completed by the original
due date of the Q2 Form 10-Q. Additionally, the Company is working
diligently to complete certain procedures to conclude whether a
valuation allowance is to be recorded against certain deferred tax
assets. These assessments require significant resources from the
Company’s financial, accounting and administrative personnel and,
as a result, the Company requires additional time to complete the
assessment and finalize the Q2 Form 10-Q.
The Company expects to file its Q2 Form 10-Q with the SEC as
soon as practicable, and no later than September 13, 2023, in
accordance with Rule 12b-25. The Company will make a subsequent
announcement to schedule the date and time of its second quarter of
fiscal year 2024 earnings release and conference call.
For more information, refer to the Form 12b-25 filed with the
SEC on September 6, 2023, which is available under SEC Filings on
Semtech’s website at https://investors.semtech.com under NT 10-Q.
The filing is also available directly at the SEC’s website at
www.sec.gov.
About Semtech
Semtech Corporation (Nasdaq: SMTC) is a high-performance
semiconductor, IoT systems, and cloud connectivity service provider
dedicated to delivering high-quality technology solutions that
enable a smarter, more connected, and sustainable planet. Our
global teams are committed to empowering solution architects and
application developers to develop breakthrough products for the
infrastructure, industrial and consumer markets. To learn more
about Semtech technology, visit us at Semtech.com or follow us on
LinkedIn or X.
Forward-Looking and Cautionary Statements
All statements contained herein that are not statements of
historical fact, including statements that use the words “expects”
or other similar words or expressions, that describe Semtech’s or
its management’s future plans, objectives or goals are
“forward-looking statements” and are made pursuant to the
Safe-Harbor provisions of the Private Securities Litigation Reform
Act of 1995, as amended, including, without limitation, statements
concerning the expected timing of the Q2 Form 10-Q. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that could cause the actual results
of Semtech to be materially different from the historical results
and/or from any future results or outcomes expressed or implied by
such forward-looking statements. Such factors include management’s
ability to finalize certain assessments and related procedures
required to complete the Q2 Form 10-Q prior to the extension period
provided by Rule 12b-25 under the Securities Exchange Act of 1934,
as amended, and the risk factors set forth in Semtech’s Annual
Report on Form 10-K filed with the Securities and Exchange
Commission (www.sec.gov) on March 30, 2023 as such risk factors may
be updated, amended or superseded from time to time by subsequent
reports that Semtech files with the Securities and Exchange
Commission. Semtech assumes no obligation to update any
forward-looking statements in order to reflect events or
circumstances that may arise after the date of this release, except
as required by law.
Semtech and the Semtech logo are registered trademarks or
service marks of Semtech Corporation or its subsidiaries.
SMTC-F
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Sara Kesten Semtech Corporation (805) 480 2004
webir@semtech.com
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