Lattice Semiconductor Corp. on Monday reported fourth-quarter results that beat analysts’ estimates, including quarterly revenue that rose more than 24% year over year.
Full-year revenue also rose. “We grew revenue 28% for the full year 2022, with continued strong growth in our strategic segments of industrial and automotive, and communications and computing,” said Jim Anderson, president and chief executive, in a statement.
Lattice Semiconductor LSCC,
The company reported fourth-quarter net income of $51.9 million, or 37 cents a share, compared with $28.5 million, or 20 cents a share, in the year-ago period. Adjusted for stock-based compensation, litigation expenses and other costs, earnings were 49 cents a share. Revenue rose to $176 million from $141.8 million in the year-ago quarter.
Analysts surveyed by FactSet had forecast earnings of 48 cents a share on revenue of $175.2 million.
Lattice Semiconductor expects first-quarter revenue of between $175 million and $185 million, while analysts had forecast earnings of 47 cents a share on revenue of $174.9 million.
For the full year, the company reported net income of $178.9 million, or $1.27 a share, on $660.4 million in revenue. Analysts had expected adjusted earnings of $1.32 a share on revenue of $659.6 million.
Shares of the company have increased more than 48% in the past year, and are up more than 27% year to date. Meanwhile, the S&P 500 index SPX,