Lattice Semiconductor (Nasdaq: LSCC) said reported third quarter operating earnings of $21.6 million, or 42 cents a share, on sales of $115 million. First Call consensus called for a loss of 37 cents a share.
In the same quarter a year ago, Lattice reported operating earnings of $10.5 million, or 22 cents a share, on sales of $50.2 million.
The results exclude goodwill related to the acquisition of Vantis Corp. Including goodwill, Lattice reported earnings of 16 cents a share.
The company, which makes programmable logic chips, said it was ahead of schedule with the Vantis integration and gross margins were 60 percent.
In other earnings news Thursday morning:
Although the earnings beat estimates, they were down from a year ago. In the same quarter a year ago, Andrew reported earnings of 28 cents a share on sales of $218 million. The company reported a strong backlog of orders and was optimistic about its market.
Sales for the quarter were $25 million compared to $17.5 million a year ago.
One-time items included $5.5 million in an unrealized gain and a $5.6 million writedown for technology enhancements. Without the gain, revenue for the quarter was $15.5 million. Including the unrealized gain, Wit said revenue was $21 million. Including one-time items, Wit reported a loss of 13 cents a share.
Wit benefited from a strong IPO market in 1999. The company acquired SoundView Technology and expects annual revenue to hit $200 million. The SoundView deal is expected to close at the end of the month.