Lattice Semiconductor (Nasdaq: LSCC) reported earnings on April 18. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 30 (Q1), Lattice Semiconductor met expectations on revenues and missed estimates on earnings per share.

Compared to the prior-year quarter, revenue contracted slightly. GAAP earnings per share grew.

Gross margins dropped, operating margins expanded, net margins grew.

Revenue details
Lattice Semiconductor reported revenue of $71.2 million. The five analysts polled by S&P Capital IQ predicted sales of $70.5 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.02. The three earnings estimates compiled by S&P Capital IQ averaged $0.04 per share. GAAP EPS were $0.02 for Q1 versus -$0.07 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 53.6%, 150 basis points worse than the prior-year quarter. Operating margin was 5.0%, 160 basis points better than the prior-year quarter. Net margin was 2.7%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $83.6 million. On the bottom line, the average EPS estimate is $0.06.

Next year's average estimate for revenue is $323.4 million. The average EPS estimate is $0.22.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 125 members out of 143 rating the stock outperform, and 18 members rating it underperform. Among 26 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 21 give Lattice Semiconductor a green thumbs-up, and five give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Lattice Semiconductor is buy, with an average price target of $6.35.

Is Lattice Semiconductor the best semiconductor stock for you? You may be missing something obvious. Check out the semiconductor company that Motley Fool analysts expect to lead "The Next Trillion-dollar Revolution." Click here for instant access to this free report.

Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.