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BRIEF-Semtech and Comcast sign deal to deploy trial network in US
October 5, 2016 / 8:32 PM / a year ago

BRIEF-Semtech and Comcast sign deal to deploy trial network in US

Oct 5 (Reuters) - Semtech Corp -

* Semtech and Comcast sign agreement to deploy trial Lorawan network in the United States

* Updates Q3FY17 gaap guidance as a result of warrant

* Upon successful completion of trials, network could be expanded to up to 30 U.S. cities within a period of 30 months

* GAAP earnings per diluted share are now expected to be in range of $0.43 to $0.47 compared to prior range of $0.49 to $0.53 for Q3 2017

* Has agreed to grant Comcast a warrant to purchase 1.1 million shares of co’s common stock at a purchase price per share equal to $0.01

* Deal provides warrant for Comcast to acquire up to $30 million of Semtech common stock

* Semtech expects to record a reduction to its GAAP net sales of approximately $3.8 million in Q3 of fiscal year 2017

* Expects to record reduction to gaap net sales of about $3.8 million in Q3 2017, expected to reduce gaap earnings per share for Q3 by about $0.06

* Sees Q3 gaap net sales to be in range of $130.0 million to $138.0 million

* Q3 earnings per share view $0.36, revenue view $138.5 million -- Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage:

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