Lattice Semiconductor Corporation
Consolidated Statements of Operations
(in thousands, except per share data)

(unaudited)

 
    Three Months Ended   Nine Months Ended
   

September 29,
2018

 

June 30,
2018

 

September 30,
2017

 

September 29,
2018

 

September 30,
2017

Revenue   $ 101,484     $ 102,715     $ 91,971     $ 302,822     $ 290,695  
Costs and expenses:                    
Cost of sales   43,120     52,467     38,649     137,689     125,332  
Research and development   19,131     21,081     25,648     63,153     79,857  
Selling, general, and administrative   21,775     21,068     21,290     69,886     67,133  
Amortization of acquired intangible assets   3,823     4,523     8,526     13,982     25,777  
Restructuring   90     4,376     3,071     5,495     4,713  
Acquisition related charges       864     681     1,531     3,208  
Impairment of acquired intangible assets   586     11,900     36,198     12,486     36,198  
Gain on sale of building           (4,624 )       (4,624 )
    88,525     116,279     129,439     304,222     337,594  
Income (loss) from operations   12,959     (13,564 )   (37,468 )   (1,400 )   (46,899 )
Interest expense   (5,500 )   (4,968 )   (3,888 )   (15,582 )   (14,112 )
Other expense, net   (452 )   (348 )   (2,027 )   (246 )   (2,104 )
Income (loss) before income taxes   7,007     (18,880 )   (43,383 )   (17,228 )   (63,115 )
Income tax expense (benefit)   33     1,343     (331 )   1,973     234  
Net income (loss)   $ 6,974     $ (20,223 )   $ (43,052 )   $ (19,201 )   $ (63,349 )
                     
Net income (loss) per share:                    
Basic   $ 0.05     $ (0.16 )   $ (0.35 )   $ (0.15 )   $ (0.52 )
Diluted   $ 0.05     $ (0.16 )   $ (0.35 )   $ (0.15 )   $ (0.52 )
                     
Shares used in per share calculations:                    
Basic   127,816     124,843     122,990     125,578     122,393  
Diluted   129,474     124,843     122,990     125,578     122,393  
                               
 
Lattice Semiconductor Corporation
Consolidated Balance Sheets
(in thousands)
(unaudited)
 
   

September 29,
2018

 

December 30,
2017

Assets        
Current assets:        
Cash and cash equivalents   $ 107,893     $ 106,815
Short-term marketable securities   9,600     4,982
Accounts receivable, net   75,648     55,104
Inventories   66,381     79,903
Other current assets   24,143     16,567
Total current assets   283,665     263,371
         
Property and equipment, net   35,724     40,423
Intangible assets, net   24,977     51,308
Goodwill   267,514     267,514
Deferred income taxes   188     198
Other long-term assets   20,259     13,147
    $ 632,327     $ 635,961
         
Liabilities and Stockholders' Equity        
Current liabilities:        
Accounts payable and other accrued liabilities   $ 56,788     $ 64,821
Current portion of long-term debt   14,104     1,508
Deferred income and allowances on sales to distributors and deferred license revenue       17,318
Total current liabilities   70,892     83,647
         
Long-term debt   261,035     299,667
Other long-term liabilities   39,274     34,954
Total liabilities   371,201     418,268
         
Stockholders' equity   261,126     217,693
    $ 632,327     $ 635,961
               
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