Semtech, a producer of analog and mixed-signal semiconductors, announced financial results for its first quarter of fiscal year 2007. Net sales were $65.9 million, up 17 percent from $56.2 million in the first quarter of fiscal year 2006 and up 2 percent sequentially when compared to the fourth quarter of fiscal year 2006. Net income, computed in accordance with U.S. generally accepted accounting principles (GAAP), for the first quarter of fiscal year 2007 was $12.0 million.