Lattice Semiconductor Q4 Profit Tops Street, Outlook Strong

(RTTNews) - Lattice Semiconductor Corp. (LSCC) Tuesday reported a profit for the fourth quarter that trumped analysts expectations, as revenues grew. The company also issued a strong revenue outlook for the first quarter.

Portland, Oregon-based Lattice's fourth-quarter net income was $13.99 million or $0.10 per share, compared with last year's net loss of $7.1 million or $0.05 per share.

On an adjusted basis, earnings for the quarter increased to $0.17 per share from $0.08 last year. On average, 8 analysts polled by Thomson Reuters estimated earnings of $0.15 per share last year. Analysts' estimates typically exclude one-time items.

Revenues for the quarter rose to $100.24 million from $95.98 million last year. Analysts had a consensus revenue estimate of $100.06 million for the quarter.

Looking forward to the first quarter, Lattice expects revenues to be between about $96 million and $104 million. Analysts currently estimate revenues of $99.71 million for the first quarter.

LSCC closed Tuesday's trading at $19.85, up $0.85 or 4.47%, on the Nasdaq. The stock further gained $0.05 or 0.25% in the after-hours trading.