Lattice Semi stock slips after earnings beat, outlook

Lattice Semiconductor Corp.
LSCC,
-0.01%
shares fell in the extended session Monday after the programmable logic chipmaker topped Wall Street expectations for the quarter but issued a barely in-line outlook. Lattice shares fell as much as 4% after hours, following a 0.1% decline in the regular session to close at $90.94. The company reported second-quarter net income of $50.6 million, or 36 cents a share, compared with $44.5 million, or 32 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 52 cents a share, compared with 42 cents a share in the year-ago period. Revenue rose to $190.1 million from $161.4 million in the year-ago quarter. Analysts surveyed by FactSet had forecast 51 cents a share on revenue of $188.2 million. Lattice forecast third-quarter revenue of $187 million to $197 million, while analysts had estimated $191.9 million.