Lattice Semiconductor beats estimates, citing development in auto, industrial and extra

Lattice Semiconductor Corp. on Monday reported fourth-quarter outcomes that beat analysts’ estimates, together with quarterly income that rose greater than 24% 12 months over 12 months.

Full-year income additionally rose. “We grew revenue 28% for the full year 2022, with continued strong growth in our strategic segments of industrial and automotive, and communications and computing,” stated Jim Anderson, president and chief government, in an announcement.

Lattice Semiconductor
LSCC,
+2.02%
shares slipped 0.9% after hours, after rising 2% within the common session to shut at $82.70. 

The firm reported fourth-quarter web earnings of $51.9 million, or 37 cents a share, in contrast with $28.5 million, or 20 cents a share, within the year-ago interval. Adjusted for stock-based compensation, litigation bills and different prices, earnings have been 49 cents a share. Revenue rose to $176 million from $141.8 million within the year-ago quarter. 

Analysts surveyed by FactSet had forecast earnings of 48 cents a share on income of $175.2 million.

Lattice Semiconductor expects first-quarter income of between $175 million and $185 million, whereas analysts had forecast earnings of 47 cents a share on income of $174.9 million.

For the total 12 months, the corporate reported web earnings of $178.9 million, or $1.27 a share, on $660.4 million in income. Analysts had anticipated adjusted earnings of $1.32 a share on income of $659.6 million.

Shares of the corporate have elevated greater than 48% prior to now 12 months, and are up greater than 27% 12 months up to now. Meanwhile, the S&P 500 index
SPX,
+1.14%
has risen almost 8% 12 months up to now.

Source web site: www.marketwatch.com

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