FX.co ★ Lattice Semiconductor Corp. Q1 Profit Decreases, but beats estimates

Lattice Semiconductor Corp.(LSCC) has posted a decrease in earnings for the first quarter compared to the same period last year, albeit surpassing Street estimates. The company's net income amounted to $14.8 million, translating to $0.11 per share. This is considerably lower than the $56 million or $0.40 per share reported in the first quarter of the previous year.

Upon excluding certain factors, Lattice Semiconductor Corp. reported an adjusted income of $40.3 million or $0.29 per share for the period. Average analyst predictions anticipated company earnings of $0.28 per share, as compiled by Thomson Reuters. These projections typically don't take special items into account.

The company's quarterly revenue experienced a 23.6% decline, plummeting from $184.3 million last year to $140.8 million in the current year.

A quick snapshot of Lattice Semiconductor Corp.’s earnings based on the Generally Accepted Accounting Principles(GAAP) reveals:

- Earnings for Q1 stand at $14.8 million, a substantial drop from $56 million last year.

- Earnings per Share (EPS) for Q1 are at $0.11, well below $0.40 from the same period last year.

- Revenue for Q1 is $140.8 million, down from $184.3 million in the last year.