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Investing.com -- Lattice (OTC:LTTC) Semiconductor Corporation (NASDAQ:LSCC) reported first-quarter earnings that met analyst expectations, but its stock fell 2.6% in after-hours trading as the company’s outlook for the second quarter fell short of estimates.
The low power programmable leader announced Q1 adjusted earnings per share of $0.22, in line with analyst estimates. Revenue for the quarter came in at $120.15 million, slightly above the consensus estimate of $120.1 million and up 2.3% from the previous quarter. However, revenue was down 14.7% YoY.
For the second quarter, Lattice Semiconductor expects revenue between $118.5 million and $128.5 million, with the midpoint of $123.5 million falling just shy of the $123.6 million analyst consensus. The company forecasts adjusted EPS of $0.22 to $0.26, compared to the $0.24 analyst estimate.
CEO Ford Tamer noted, "The first quarter of 2025 developed as expected, with sequential revenue growth, a record level of design wins, and a further expansion of our operating margins." However, he added a note of caution, stating, "While we are encouraged by our progress, we are monitoring the market environment, along with the broader industry, as it could have an impact on our outlook."
The company reported a non-GAAP gross margin of 69.0% for Q1, flat YoY but up 690 basis points sequentially. Adjusted EBITDA margin stood at 33.4%, down from 35.7% in the same quarter last year.
Chief Financial Officer Lorenzo Flores highlighted the company’s disciplined approach, saying, "We’re maintaining disciplined control over operating expenses while continuing to focus on execution."
Lattice Semiconductor’s cautious outlook and the slight miss on Q2 guidance midpoint appear to be driving the after-hours stock decline, despite the in-line Q1 results.
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