Strong sales growth powers Lattice Semi past 2Q estimates

Lattice Semiconductor Corp. (Nasdaq: LSCC) raced past analysts' estimates in its second quarter Monday, earning $11.6 million, or 23 cents a share, on sales of $95 million.

Its shares closed off 1 3/32 to 28 3/4 ahead of the earnings report.

First Call consensus expected the maker of programmable logic devices to earn 19 cents a share in the quarter.

The $95 million in sales marks a 98 percent jump versus the year-ago quarter when it earned $9.9 million, or 21 cents a share, on sales of $48.1 million.

"We are extremely pleased with these quarterly results," said CEO Cyrus Tsui in a prepared release. "Revenue levels in all geographies exceeded our expectations while operating expenses were managed significantly below our original plan."

Last quarter, Lattice hurdled Street estimates, earning $12.8 million, or 53 cents a share, on sales of $59.7 million.

Its shares soared to a 52-week high of 34 5/8 in September ahead of its 2-for-1 split. The stock bottomed out at 13 5/8 in October.

Fifteen of the 21 analysts following the stock maintain either a "buy" or "strong buy" recommendation.