Lattice Semiconductor Earnings: Here’s Why the Stock is Falling Now

Lattice Semiconductor Corporation (NASDAQ:LSCC) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 7.56%.

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Lattice Semiconductor Corporation Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased to $0.03 in the quarter versus EPS of $-0.07 in the year-earlier quarter.

Revenue: Decreased 0.7% to $71.2 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Lattice Semiconductor Corporation reported adjusted EPS income of $0.03 per share. By that measure, the company beat the mean analyst estimate of $0.01. It beat the average revenue estimate of $70.56 million.

Quoting Management: Darin G. Billerbeck, President and Chief Executive Officer, said, “Revenue for the first quarter of 2013 came in at the high end of upwardly revised guidance and well above our original guidance. The strong revenue growth directly reflects expansion into the consumer market along with some strengthening in the communications market. Importantly, we returned to profitability in the first quarter, which is the ultimate validation of our market strategy and operations execution. We are pleased by the traction we are seeing with our low density, low power programmable devices especially in applications where long battery life is crucial.”

Key Stats (on next page)…

Revenue increased 8.08% from $65.88 million in the previous quarter. EPS increased to $0.03 in the quarter versus EPS of $-0.06 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.03 to a profit $0.02. For the current year, the average estimate has moved up from a profit of $0.13 to a profit of $0.14 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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