Lattice Semiconductor Reports Drop in Earnings and Revenue

Lattice Semiconductor Corp. announced a significant decline in both earnings and revenue for the third quarter, matching analyst expectations. The report details a drop to $7.2 million in net income and a sharp revenue decline, prompting cautious guidance for the next quarter.

Date: 05-11-2024

AI Rating: 4

Lattice Semiconductor Corp. (LSCC) reported a substantial drop in earnings and revenue for the third quarter, which could significantly affect its stock price moving forward.

Earnings Per Share (EPS): The company's EPS for Q3 was reported at $0.05, a stark decrease from $0.38 in the same quarter last year. This reduction in EPS is highly concerning as it reflects weakened profitability.

Net Income: The net income of $7.2 million is a drastic decline from $53.8 million in the previous year's third quarter. Such a significant drop portrays an overall weakening in the company's financial health.

Revenue Growth: The revenue for the quarter fell by 33.9% to $127.1 million, down from $192.2 million year-over-year. This contraction is indicative of potential issues with demand or sales, which any investor should carefully consider.

The report also provided guidance for the next quarter, forecasting an EPS of $0.15 to $0.23 and revenue between $112 to $122 million. This forward guidance is lower than the current quarter's performance, which could lead to a bearish sentiment among investors.

Stocks: LSCC