SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report: August 27, 2002
Semtech Corporation
(Exact name of registrant as specified in its charter)
Delaware 1-6395 95-2119684
(State or other jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) Identification No.)
200 Flynn Road
Camarillo, California 93012-8790
(Address of Principal Executive Offices) (Zip Code)
(805) 498-2111
(Registrant's telephone number, including area code)
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Item 5. Other Events.
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The Registrant issued the press release, filed as Exhibit 99.1
hereto, on August 27, 2002.
Item 7. Financial Statements and Exhibits.
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Exhibit Number Description of Document
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99.1 Press Release of the Registrant dated August 27, 2002.
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Exhibit 99.1
SEMTECH IN TALKS TO RESOLVE CUSTOMER DISPUTE
CAMARILLO, CALIFORNIA, August 27, 2002 - SEMTECH CORPORATION (Nasdaq: SMTC)
stated today that it is in discussions with a customer to resolve a dispute over
whether a Semtech integrated circuit (IC) caused failures in some units of two
models of the customer's products. In an effort to resolve the matter, Semtech
has cooperated fully with the customer, has freely shared access to its
reliability testing data, and has conducted other tests requested by the
customer. The Company has been unable to replicate the problem and extensive
testing shows that Semtech's IC functions reliably. Thus far, the customer has
not provided documentation of its technical or financial contentions, but has
indicated that it has suffered damages in the range of $42 million and has
projected that they may exceed $115 million. The customer, which is expected to
account for approximately 1 percent of sales in the third quarter, purchased
approximately $550,000 of the IC at issue. The discussions are ongoing.
About Semtech
Semtech Corporation is a leading supplier of analog and mixed-signal
semiconductors used in a wide range of computer, industrial and communication
applications. Semtech has been publicly traded since 1967 and is listed on the
Nasdaq National Market under the symbol SMTC.
Safe Harbor Provision
Statements contained in this release that are not historical facts are
forward-looking statements as that term is defined in the Private Securities
Litigation Reform Act of 1995. Forward-looking statements, including
expectations regarding the outcome of customer disputes, involve risks and
uncertainties that could cause actual results to differ materially from those
projected. There are risk and uncertainties inherent in relations with customers
and associated with their businesses. Other factors that may cause actual
results to differ from the forward-looking statements contained in this press
release and that may affect the Company's prospects in general are described in
the Company's filings with the Securities and Exchange Commission. The Company
undertakes no obligation to update or revise forward-looking statements to
reflect subsequent events or changed assumptions or circumstances.
Investor Relations Contact
John Baumann, Treasurer, Telephone: 805-480-2010
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SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: August 27, 2002 SEMTECH CORPORATON
By: /s/ David G. Franz, Jr.
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David G. Franz, Jr.
Chief Financial Officer
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