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:
Semiconductor company Semtech has signed an agreement with media conglomerate Comcast to trial a deployment of the Lorawan network in the US . Should the trial of the network be successful , it could be deployed to up to 50 US cities within 30 months . The deal allows customers to purchase up to $ 30 m of Semtech common stock . Semtech predicts a reduction to its GAAP net sales of approximately $ 3.8 m in the third quarter of the 2017 fiscal year .