By Katherine Hamilton
Lattice Semiconductor's fourth-quarter earnings and expectations for next quarter beat Wall Street expectations, propping up shares.
The Hillsboro, Ore.-based company posted a profit of $16.5 million, or 12 cents a share, in the three months ended Dec. 28, compared with $98.7 million, or 71 cents a share, a year earlier.
Stripping out certain one-time items, adjusted per-share earnings were 15 cents, ahead of the 7 cents forecast by analysts, according to FactSet.
Revenue fell about 31% to $117.4 million, Lattice said Monday. Analysts surveyed by FactSet forecast revenue of $117.1 million.
Shares rose 10% to $60.52 in after hours trading on Monday.
Lattice said it expects revenue in the first quarter of 2025 to be between $115 million and $125 million. Analysts polled by FactSet had been expecting $118.8 million. It anticipates adjusted earnings per share to be 20 cents to 24 cents, ahead of the 21 cents expected by analysts.
"We are starting to see signs of improvement in the broader market environment as evidenced by our stronger backlog and improved book to bill, which bode well for our business moving forward," Chief Executive Ford Tamer said.
Write Katherine to at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
February 10, 2025 16:44 ET (21:44 GMT)
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