Lattice Raises 3Q Revenue Outlook
HILLSBORO, Ore. (AP) ¿ Lattice Semiconductor Corp. on Thursday said it expects to post third-quarter revenue toward the upper-end of its previously forecast range.
The chip maker said revenue should be flat to up 3 percent in the third quarter from the prior quarter. Lattice had said before that revenue would run from a decline of 2 percent to an increase of 3 percent.
The revised outlook puts third-quarter revenue in the range of $46.9 million to $48.3 million ¿ compared with the $47.1 million expected by analysts polled by Thomson Reuters.
The original and new outlook includes a $2 million decrease in revenue related to a shift in revenue recognition for certain distributors to the "sell-through" model from "sell-in."In general, sell-through is a more conservative accounting method that books revenue when the distributor sells the product to the end user. The sell-in method books revenue when the product is shipped to the distributor. Lattice also said it expects an increase in operating expenses to $30.2 million from $29.2 million. The $1 million increase is due to restructuring charges from consolidating additional office space in Silicon Valley. Shares of the Hillsboro, Ore.-based company rose by 3 cents to $2.57 on Thursday. Lattice reported its revised outlook after the close of the regular trading session.
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