RTTNews | Oct 27, 2020 04:23PM EDT

16:23 Tuesday, October 27, 2020 (RTTNews.com) - Lattice Semiconductor Corp. (LSCC) Tuesday reported a third-quarter earnings that beat analysts estimates.

Portland, Oregon-based Lattice reported third-quarter profit of $12.61 million or $0.09 per share, compared with last year's profit of $13.54 million or $0.10 per share.

On an adjusted basis, earnings for the quarter increased to $0.19 per share from $0.17 last year. On average, 9 analysts polled by Thomson Reuters estimated earnings of $0.16 per share last year. Analysts' estimates typically exclude one-time items.

Revenues for the quarter dropped 0.4% to $103.04 million from $103.47 million last year. Analysts had a consensus revenue estimate of $109.98 million for the quarter.

Looking forward to the fourth quarter, Lattice expects revenues to be between $99 million and $107 million. Analysts currently estimate revenues of $101.24 million for the quarter.

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