Semtech (SMTC)

Note 7: Earnings Per Share

The computation of basic and diluted earnings per common share was as follows:

Basic earnings per common share is computed using the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per common share incorporates the incremental shares issuable, calculated using the treasury stock method, upon the assumed exercise of stock options and the vesting of restricted stock.

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Options to purchase approximately 9.5 million shares for the first quarter of fiscal years 2010 and 2009, respectively, were not included in the computation of diluted net income per share because the options were considered anti-dilutive.

Earnings per Share

The computation of basic and diluted earnings per common share was as follows:

Basic earnings per common share is computed using the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per common share incorporates the incremental shares issuable, calculated using the treasury stock method, upon the assumed exercise of stock options and the vesting of restricted stock.

Options to purchase 10.6 million, 10.3 million and 8.5 million shares for fiscal years 2009, 2008 and 2007, respectively, were not included in the computation of diluted net income per share because the grant price of such options was above the average stock price for the period and, therefore, the options were considered anti-dilutive.

Earnings per Share

SIZE="2">The computation of basic and diluted earnings per common share was as follows:

Basic earnings per common share is computed using the weighted-average number of common shares outstanding during
the reporting period. Diluted earnings per common share incorporates the incremental shares issuable, calculated using the treasury stock method, upon the assumed exercise of stock options and the vesting of restricted stock.

Note 7: Earnings Per Share

The computation of basic and diluted earnings per common share was as follows:

Basic earnings per common share is computed using the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per common share incorporates the incremental shares issuable, calculated using the treasury stock method, upon the assumed exercise of stock options and the vesting of restricted stock.

Options to purchase approximately 9.5 million shares and 6.0 million shares for the third quarter of fiscal years 2009 and 2008, respectively, were not included in the computation of diluted net income per share because the options were considered anti-dilutive. Options to purchase approximately 9.5 million shares and 10.2 million shares for the first nine months of fiscal years 2009 and 2008, respectively, were not included in the computation of diluted net income per share because the options were considered anti-dilutive.

Note 7: Earnings Per Share

The computation of basic and diluted earnings per common share was as follows:

Basic earnings per common share is computed using the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per common share incorporates the incremental shares issuable, calculated using the treasury stock method, upon the assumed exercise of stock options and the vesting of restricted stock.

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Options to purchase approximately 7.6 million shares and 7.1 million shares for the second quarter of fiscal years 2009 and 2008, respectively, were not included in the computation of diluted net income per share because the options were considered anti-dilutive. Options to purchase approximately 8.6 million shares and 7.7 million shares for the first six months of fiscal years 2009 and 2008, respectively, were not included in the computation of diluted net income per share because the options were considered anti-dilutive.

Note 7: Earnings Per Share

The computation of basic and diluted earnings per common share was as follows:

Basic earnings per common share is computed using the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per common share incorporates the incremental shares issuable, calculated using the treasury stock method, upon the assumed exercise of stock options and the vesting of restricted stock.

Options to purchase approximately 9.5 million shares and 7.3 million shares for the first quarter of fiscal years 2009 and 2008, respectively, were not included in the computation of diluted net income per share because the options were considered anti-dilutive.

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Earnings per Share

The computation of basic and diluted earnings per common share was as follows:

Basic earnings per common share is computed using the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per common share incorporates the incremental shares issuable, calculated using the treasury stock method, upon the assumed exercise of stock options and the vesting of restricted stock. Also included is the impact of shares issuable in settlement of the accelerated stock buyback (See Note 2).

Options to purchase 10.3 million, 8.5 million and 3.1 million shares for fiscal years 2008, 2007 and 2006, respectively, were not included in the computation of diluted net income per share because the grant price of such options was above the average stock price for the period and, therefore, the options were considered anti-dilutive.

Note 6: Earnings Per Share

The computation of basic and diluted earnings per common share was as follows:

Basic earnings per common share are computed using the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per common share incorporate the incremental shares issuable, calculated using the treasury stock method, upon the assumed exercise of stock options and the vesting of restricted stock. Also included is the impact of shares issuable in settlement of the accelerated stock buyback. See Notes 8 and 17. The weighted-average number of shares used to compute basic earnings per share in the third quarters of fiscal years 2008 and 2007 was approximately 63.7 million and 72.3 million, respectively. The weighted-average number of shares used to compute diluted earnings per share in the third quarters of fiscal years 2008 and 2007 was approximately 66.3 million and 73.7 million, respectively. The weighted-average number of shares used to compute basic earnings per share in the first nine months of fiscal years 2008 and 2007 was approximately 67.7 million and 72.4 million, respectively. The weighted-average number of shares used to compute diluted earnings per share in the first nine months of fiscal years 2008 and 2007 was approximately 69.6 million and 74.1 million, respectively.

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Options to purchase approximately 6.0 million shares and 10.2 million shares, respectively, were not included in the computation of the third quarters of fiscal years 2008 and 2007 diluted net income per share because such options were considered anti-dilutive. Options to purchase approximately 10.2 million shares and 8.0 million shares, respectively, were not included in the computation of the first nine months of fiscal years 2008 and 2007 diluted net income per share because such options were considered anti-dilutive.

Note 6: Earnings Per Share

The computation of basic and diluted earnings per common share was as follows:

Basic earnings per common share are computed using the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per common share incorporate the incremental shares issuable, calculated using the treasury stock method, upon the assumed exercise of stock options and the vesting of restricted stock. The weighted-average number of shares used to compute basic earnings per share in the second quarters of fiscal years 2008 and 2007 was approximately 67.0 million and 72.3 million, respectively. The weighted-average number of shares used to compute diluted earnings per share in the second quarters of fiscal years 2008 and 2007 was approximately 68.8 million and 73.9 million, respectively. The weighted-average number of shares used to compute basic earnings per share in the first six months of fiscal years 2008 and 2007 was approximately 69.7 million and 72.4 million, respectively. The weighted-average number of shares used to compute diluted earnings per share in the first six months of fiscal years 2008 and 2007 was approximately 71.2 million and 74.3 million, respectively.

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Options to purchase approximately 7.1 million shares and 8.7 million shares, respectively, were not included in the computation of the second quarters of fiscal years 2008 and 2007 diluted net income per share because such options were considered anti-dilutive. Options to purchase approximately 7.7 million shares and 7.9 million shares, respectively, were not included in the computation of the first six months of fiscal years 2008 and 2007 diluted net income per share because such options were considered anti-dilutive.

Note 6: Earnings Per Share

The computation of basic and diluted earnings per common share was as follows:

Basic earnings per common share are computed using the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per common share incorporate the incremental shares issuable, calculated using the treasury stock method, upon the assumed exercise of stock options and the vesting of restricted stock. The weighted-average number of shares used to compute basic earnings per share in the first quarters of fiscal years 2008 and 2007 was approximately 72.4 million and 72.6 million, respectively. The weighted-average number of shares used to compute diluted earnings per share in the first quarters of fiscal years 2008 and 2007 was approximately 73.6 million and 74.7 million, respectively.

Options to purchase approximately 7.3 million shares and 6.6 million shares, respectively, were not included in the computation of the first quarters of fiscal years 2008 and 2007 diluted net income per share because such options were considered anti-dilutive.