Lattice Semiconductor Corp (NASDAQ:LSCC) stock rose 6.54% (As on February 14, 11:12:25 AM UTC-4, Source: Google Finance) after the company beaten the earnings estimates for the fourth quarter of FY 22. The company’s earnings totaled $51.9 million compared with $28.5 million in last year’s fourth quarter.  In December, the company launched the Lattice Avant platform, which will double the addressable market and creates new greenfield growth opportunities.   Lattice launched its newest power-efficient FPGA platform, Lattice Avant, significantly expanding its product portfolio, doubling the addressable market and creating new greenfield revenue growth opportunities. The company grew revenue 28% for the full year 2022, with continued strong growth in the strategic segments of industrial and automotive, and communications and computing.  The company has delivered 86% annual growth in net income on a GAAP basis and 64% on a non-GAAP basis. The company is certainly not immune to any macro-economic challenges impacting the industry, the Company is well positioned in secular growth markets, with an expanding product portfolio, accelerating customer momentum and strong financial execution.

LSCC in the fourth quarter of FY 22 has reported the adjusted earnings per share of 49 cents, beating the analysts’ estimates for the adjusted earnings per share of 48 cents, according to figures compiled by Thomson Reuters. The company had reported the adjusted revenue growth of 24.1 percent to $176 million in the fourth quarter of FY 22. Gross margin expanded 520 basis points on a GAAP basis and 490 basis points on a non-GAAP basis compared to Q4 2021. The company achieved record operating profit of 30.7% on a GAAP basis and 40.2% on a non-GAAP basis, while driving gross margin expansion of 520 basis points on a GAAP basis and 490 basis points on a non-GAAP basis compared to Q4 2021. The company generated a record level of cash flow from operations, with a 42% increase compared to the prior year.

Additionally, the company has repurchased 290,000 shares in Q4 2022. Meanwhile, for the third year in a row, Lattice received the Global Semiconductor Alliance (GSA) Most Respected Public Semiconductor Company Award

Revenue for the first quarter of 2023 is expected to be between $175 million and $185 million. Gross margin percentage for the first quarter of 2023 is expected to be 70% plus or minus 1% on a non-GAAP basis. Total operating expenses for the first quarter of 2023 are expected to be between $53 million and $55 million on a non-GAAP basis.