Lattice Semiconductor 3Q loss narrows

Lattice Semiconductor third-quarter loss narrows to $4.1 million on lower expenses

• On 6:47 pm EDT, Thursday October 22, 2009

HILLSBORO, Ore. (AP) -- Chip maker Lattice Semiconductor Corp. said Thursday its third-quarter loss narrowed to $4.1 million as sales fell 15 percent and costs declined.

The loss for the three months ended Oct. 3 was 4 cents a share, compared with a loss of $7 million, or 6 cents a share, a year ago.

The third-quarter results included stock-based compensation expense, restructuring charges and an impairment charge on marketable securities that totaled $4.6 million.

Excluding these items, net income for the third quarter of this year was $516,000, or 0 cents per share.

The company reduced its costs and expenses 18 percent to $52.6 million from $63.8 million a year earlier.

Revenue in the quarter fell to $49.1 million from $57.6 million a year ago.

Analysts surveyed by Thomson Reuters, who generally exclude one-time items from their estimates, were expecting a loss of 2 cents a share on revenue of $47.4 million.