Lattice Semiconductor (NASDAQ: LSCC) reported Q3 EPS of $0.17, $0.01 better than the analyst estimate of $0.16. Revenue for the quarter came in at $103.04 million versus the consensus estimate of $100.98 million.

Jim Anderson, president and CEO, said, "We expanded operating profit in Q3 driven by year-over-year growth in our key markets of communications and computing, and industrial and automotive. In spite of a challenging environment this year, I am pleased with the progress we have made and excited about the continued potential of the company as we accelerate our product roadmap leadership, expand customer engagements and drive toward our long-term financial goals."

Sherri Luther, CFO, said, "We continued to see significant improvements in our key financial metrics for the third quarter of 2020 with diluted EPS increasing 13% on a GAAP basis and 12% on a non-GAAP basis compared to the prior quarter. Gross margin expanded on both a GAAP and non-GAAP basis sequentially and year-over-year, as we benefited from our ongoing pricing optimization strategy, product cost reductions, and some mix contribution. Year to date, we generated approximately $69 million of cash flow from operations, and ended the third quarter of 2020 with a positive net cash position further reinforcing our commitment to ongoing cash generation."

GUIDANCE:

Lattice Semiconductor sees Q4 2020 revenue of $99-107 million, versus the consensus of $101.24 million.

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