Lattice Semiconductor Corp. (LSCC) reported net income for the first quarter of $1.9 million or 0.02 per share, compared to a net loss of $7.7 million or $0.07 per share for the year-ago quarter.
The latest quarter results include tax expense of $0.7 million, amortization expense from acquired intangibles of $0.7 million and restructuring charges of $0.2 million, while the year-ago quarter results included a $7.9 million or $0.07 per share income tax expense, $1.7 million of acquisition related costs and $0.6 million of restructuring related charges.
Revenue for the first quarter declined to $71.2 million from $71.7 million a year ago.
Analysts polled by Thomson Reuters expected the company to earn $0.01 per share on revenue of $70.56 million for the first quarter.
Looking forward, the company said it expects second quarter to increase about 15% to 20% on a sequential basis. Gross margin for the second quarter is expected to be about 51% plus or minus 2%.
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