Lattice Semiconductor Reports Third Quarter of 2018 Results

October 25, 2018 | 12:00

Third Quarter 2018 Highlights:

  • Net Income increases to $0.05 per share on a GAAP basis and Net Income of $0.11 per share on a Non-GAAP Basis; highest level since the third quarter of 2014
  • Gross Margin improves to 57.5% on a GAAP basis and 57.4% on a non-GAAP basis
  • Company makes additional $15 million discretionary debt payment, following $10 million discretionary payment in the second quarter of 2018
  • Company makes several key executive leadership appointments; Appoints Jim Anderson, President and CEO; Esam Elashmawi, Chief Marketing and Strategy Officer; and Steve Douglass, Corporate Vice President, R&D

* GAAP represents U.S. Generally Accepted Accounting Principles. Non-GAAP represents GAAP excluding the impact of certain activities which the Company's management excludes in analyzing the Company's operating results and in understanding trends in the Company's earnings. For a reconciliation of GAAP to non-GAAP results, see accompanying tables "Reconciliation of U.S. GAAP to Non-GAAP Financial Measures."

PORTLAND, Ore.--(BUSINESS WIRE)--Oct. 25, 2018-- Lattice Semiconductor Corporation (NASDAQ:LSCC), a leading provider of customizable smart connectivity solutions, announced financial results today for the fiscal third quarter ended September 29, 2018.

 

Selected Q3 2018 Financial Results and Comparisons (in thousands, except per share data)

         
    GAAP — Three Months Ended   Non-GAAP — Three Months Ended
   

September 29,
2018

 

June 30,
2018

 

September 30,
2017 

 

September 29,
2018

 

June 30,
2018

 

September 30,
2017 

Revenue   $ 101,484     $ 102,715     $ 91,971     $ 101,484     $ 102,715     $ 91,971  
Gross Margin %   57.5 %   48.9 %   58.0 %   57.4 %   57.2 %   58.1 %
Operating Expense   $ 45,405     $ 63,812     $ 90,790     $ 38,417     $ 39,945     $ 44,578  
Net Income (Loss)   $ 6,974     $ (20,223 )   $ (43,052 )   $ 13,785     $ 12,375     $ 5,328  
Net Income (Loss) per share, basic and diluted   $ 0.05     $ (0.16 )   $ (0.35 )   $ 0.11     $ 0.10     $ 0.04  
                                                 
 

Results for periods in 2017 are presented in accordance with ASC 605, which was in effect during that fiscal year.

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