Chip component maker
fourth-quarter loss widened by 77% from a year ago.
The company lost $23 million, or 20 cents a share, for the fourth quarter of 2005 as compared to a loss of $13.1 million, or 12 cents a share, for the corresponding quarter of the previous year.
These figures include charges of $3.7 million for the amortization of intangible assets and $11.9 million for restructuring costs. Excluding these charges, loss for the quarter was $7.3 million, or 6 cents a share. Analysts polled by Thomson First Call were forecasting a loss of 4 cents a share.
For Lattice's fourth quarter, revenue was up by 11% to $54 million, in line with the Thomson First Call estimate.
Gross margin for the fourth quarter of 2005 was 49.1% as compared to 56.6% for the previous year's fourth quarter.
The company expects sequential quarterly revenue growth of 2% to 5%, with gross margin of approximately 54% to 56%, for the year 2006.
Lattice generates revenues from Programmable Logic Device products and Field Programmable Gate Arrays products. Quarterly revenue from PLD products increased by 12% to $44.1 million. Quarterly revenue from FPGA products was $9.9 million as compared to $9.2 million for the fourth quarter of 2004.
Lattice said, "With our companywide restructuring and related one-time write-offs behind us, we enter 2006 with a renewed sense of optimism. Our operating expense level has been reduced, and our next generation FPGAs, now fully production released, continue to make inroads into the worldwide customer base. Acceptance of these new FPGA products is increasing across multiple applications, and we are winning a growing number of design-ins."
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