Lattice Semiconductor (NASDAQ: LSCC) reported Q4 EPS of $0.19, $0.02 better than the analyst estimate of $0.17. Revenue for the quarter came in at $107.17 million versus the consensus estimate of $103.15 million.

Jim Anderson, president and CEO, said, "Profitability increased significantly for the full year 2020, as we continued to execute on our strategy. We saw double-digit year-over-year revenue growth in our two largest markets, communications and computing, and industrial and automotive, which are long-term growth drivers. We executed well on our hardware and software roadmaps, with the successful launch of two new Nexus™ products and three new software products. We are pleased with the momentum we are building with our customers and look to accelerate the Company\'s growth moving forward."

Sherri Luther, CFO, said, "We expanded diluted earnings per share by 6.3% on a GAAP basis for the full year 2020 compared to the full year 2019, and 16.9% on a non-GAAP basis, as we continued to drive profit expansion. With approximately $92 million in cash generated from operations for the full year 2020, we further strengthened our balance sheet ending the year with a positive net cash position."

GUIDANCE:

Lattice Semiconductor sees Q1 2021 revenue of $106-114 million, versus the consensus of $103.4 million.

• Revenue for the first quarter of 2021 is expected to be between $106 million and $114 million.
• Gross margin percentage for the first quarter of 2021 is expected to be 61.5% plus or minus 1% on a non-GAAP basis.
• Total operating expenses for the first quarter of 2021 are expected to be between $38 million and $39 million on a non-GAAP basis.

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