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 supplier 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 expanded to up to 30 US cities within 30 months. The deal allows Comcast to purchase up to $30m of Semtech common stock. Semtech predicts a reduction to its GAAP net sales of approximately $3.8m in the third quarter of the 2017 fiscal year.