Lattice Semiconductor’s stock drops 8% on revenue decline, weak sales guidance

Lattice Semiconductor Corp.’s
LSCC,
+1.81%
stock declined 8% in after-hours trading Monday after the company posted a decline in quarterly revenue and offered weak sales guidance. Lattice Semiconductor reported fiscal fourth-quarter net income of $98.7 million, or 72 cents a share, compared with net income of $51.9 million, or 38 cents a share, in the same quarter a year ago. Revenue slid 3% to $170.6 million from $176 million in the year-ago quarter. Analysts surveyed by FactSet had expected on average net income of 45 cents a share on revenue of $176.2 million. Lattice Semiconductor provided first-quarter sales guidance of $130 million to $150 million, while FactSet analysts are forecasting $174.4 million. Shares of Lattice Semiconductor have dropped 14% this year, while the broader S&P 500 index
SPX,
-0.09%
has increased 21%.