Lattice Semiconductor (LSCC) Misses Q2 EPS by 6c, Lowers FY Guidance

Lattice Semiconductor (NASDAQ: LSCC) reported Q2 EPS of ($0.07), $0.06 worse than the analyst estimate of ($0.01). Revenue for the quarter came in at $106.5 million versus the consensus estimate of $119.78 million.

Third Quarter and Full Year 2015:

• Revenue for the third quarter of 2015 is expected to be approximately flat to up 6% on a non-GAAP basis, as compared to the second quarter of 2015, with revenue on a non-GAAP basis for the full year 2015 now expected to be approximately 10% below $485 million, which was the midpoint of prior guidance.
• Gross margin percentage for both the third quarter and full year 2015 is expected to be approximately 56.5% plus or minus 2% on a non-GAAP basis.
• Total operating expenses, excluding acquisition or restructuring related charges, are expected to be approximately $60 million plus or minus 2% on a non-GAAP basis for the third quarter of 2015, and approximately $215 million plus or minus 2% on a non-GAAP basis for the full year 2015, which includes the benefit of synergy savings.
• Restructuring charges are expected to be approximately $7.0 million for the third quarter of 2015 and approximately $25 million for the full year 2015.
• Acquisition related charges, including amortization of acquired intangible assets are expected to be approximately $9.5 million in the third quarter of 2015, and approximately $52.2 million for the full year 2015.
• The Company reaffirms that it expects operating synergies to be approximately $42 million on an annualized basis as it exits 2015.

(Street sees FY revenue of $483.01 million)

For earnings history and earnings-related data on Lattice Semiconductor (LSCC) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Newton Golf Company (NWTG) Reports Q2 Loss of $0.49
• Boost Run, Inc. (BRUN) Reports Q2 Revenue of $31.1M