Lattice Semiconductor Q2 Profit Surges

(RTTNews) - Lattice Semiconductor Corp. (LSCC) on Tuesday reported an increase in profit for the second quarter, with revenues climbing 62 percent from last year.

The semiconductor company reported second-quarter net income of $19.4 million, or $0.14 per share, compared with $2.9 million, or $0.02 per share, in the prior-year quarter.

On an adjusted basis, net income rose to $74.4 million, or $0.53 per share, from $32.6 million, or $0.24 per share, a year earlier.

Revenue increased to $201.1 million from $124.0 million last year. Gross margin expanded to 70.3% from 68.4%.

For the third quarter, Lattice expects total revenue to be $245 million to $265 million and adjusted earnings of $0.54 to $0.58 per share.