RTTNews | Jul 28, 2020 04:59PM EDT

16:59 Tuesday, July 28, 2020 (RTTNews.com) - Lattice Semiconductor Corp. (LSCC) Tuesday reported a second-quarter earnings that beat analysts estimates.

Portland, Oregon-based Lattice reported second-quarter profit of $10.63 million or $0.08 per share, compared with last year's profit of $8.56 million or $0.06 per share.

On an adjusted basis, earnings for the quarter increased to $0.17 per share from $0.15 last year. On average, 9 analysts polled by Thomson Reuters estimated earnings of $0.15 per share last year. Analysts' estimates typically exclude one-time items.

Revenues for the quarter dropped 1.7% to $100.59 million from $102.30 million last year. Analysts had a consensus revenue estimate of $100.02 million for the quarter.

Looking forward to the third quarter, Lattice expects revenues to be between $96 million and $106 million. Analysts currently estimate revenues of $99.7 million for the quarter.

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