Lattice Semiconductor Q1 Profit Beats View

(RTTNews) - Shares of Lattice Semiconductor Corp. (LSCC) gained over 6% on extended trading session Tuesday after the company's first-quarter earnings beat analysts estimates by a penny, but revenues fell short of expectations.

Portland, Oregon-based Lattice's first-quarter profit of $8.17 million or $0.06 per share, compared with last year's profit of $7.41 million or $0.05 per share.

On an adjusted basis, earnings for the quarter increased to $0.15 per share from $0.11 last year. On average, 9 analysts polled by Thomson Reuters estimated earnings of $0.14 per share last year. Analysts' estimates typically exclude one-time items.

Revenues for the quarter dropped 0.8% to $97.32 million from $98.09 million last year. Analysts had a consensus revenue estimate of $98.26 million for the quarter.

Looking forward to the second quarter, Lattice expects revenues to be between about $95 million and $105 million. Analysts currently estimate revenues of $100.94 million for the quarter.

LSCC closed Tuesday's trading at $19.55, up $0.02 or 0.10%, on the Nasdaq. The stock further gained $1.25 or 6.39% on the Nasdaq.