Lattice Semiconductor Goes Negative

Lattice Semiconductor (Nasdaq: LSCC  ) reported earnings on Jan. 24. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 29 (Q4), Lattice Semiconductor met expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue dropped and GAAP earnings per share dropped to a loss. The non-GAAP profit was a surprise, as analysts had predicted a loss.

Margins dropped across the board.

Revenue details
Lattice Semiconductor reported revenue of $65.9 million. The five analysts polled by S&P Capital IQ predicted revenue of $65.9 million on the same basis. GAAP reported sales were 6.1% lower than the prior-year quarter's $70.2 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.01. The four earnings estimates compiled by S&P Capital IQ forecast -$0.01 per share. GAAP EPS were -$0.06 for Q4 versus $0.34 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 54.2%, 350 basis points worse than the prior-year quarter. Operating margin was -0.4%, 1,070 basis points worse than the prior-year quarter. Net margin was -10.9%, 6,930 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $67.3 million. On the bottom line, the average EPS estimate is $0.02.

Next year's average estimate for revenue is $287.5 million. The average EPS estimate is $0.21.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 127 members out of 144 rating the stock outperform, and 17 members rating it underperform. Among 27 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 22 give Lattice Semiconductor a green thumbs-up, and five give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Lattice Semiconductor is outperform, with an average price target of $4.80.

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