HILLSBORO, Ore. -- While the programmable logic device (PLD) industry as a whole is enjoying robust growth, Lattice Semiconductor Corp. may have provided the biggest upside surprise when it reported its results for the third quarter.
Having completed the integration of rival supplier, Vantis Corp., based Lattice more than doubled its revenue compared to the prior year to $115 million, which also represented a 21% increase from last quarter.
Earnings before goodwill were $21.6 million, or 42 cents per share, an increase of 105% from the same quarter last year, and up 87% from last quarter.
Lattice's results seemed to pacify analysts who were initially skeptical of its move to acquire a product line that essentially mirrored its own. In fact, Lattice said it has found little overlap in the customer base.
"The acquisition of Vantis was a major strategic move for Lattice," said president and chief executive, Cyrus Tsui. "In six short months, we have successfully doubled the size of our company, integrated Vantis and Lattice, and achieved the benefits.
"Going forward, we will leverage our greatly expanded research and development resources to continue to bring our customers new and innovative programmable products and technologies," Tsui said.