Lattice Semiconductor Reports Second Quarter of 2018 Results

Second Quarter 2018 Highlights:

  • Company continues to execute on business strategy; delivers improved results with revenue at $102.7 million
  • Gross Margin of 48.9% on a GAAP basis and 57.2% on a non-GAAP basis
  • Gross Margin on a GAAP basis adversely impacted by impairment charges related to discontinuation of non-core millimeter wave business
  • Net Loss of $0.16 per share on a GAAP basis and Net Income of $0.10 per share on a Non-GAAP Basis

* 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) — July 26, 2018 — Lattice Semiconductor Corporation (NASDAQ: LSCC), a leading provider of customizable smart connectivity solutions, announced financial results today for the fiscal second quarter ended June 30, 2018.

Selected Q2 2018 Financial Results and Comparisons (in thousands, except per share data)

       
GAAP — Three Months Ended Non-GAAP — Three Months Ended
June 30,
2018
  March 31,
2018
  July 1,

2017 �nbsp;

June 30,
2018
  March 31,
2018
  July 1,

2017 �nbsp;

Revenue $ 102,715 $ 98,623 $ 94,137 $ 102,715 $ 98,623 $ 94,137
Gross Margin % 48.9 % 57.3 % 54.4 % 57.2 % 57.6 % 54.6 %
Operating Expense $ 63,812 $ 57,316 $ 59,938 $ 39,945 $ 45,421 $ 46,009
Net (Loss) Income $ (20,223 ) $ (5,952 ) $ (13,022 ) $ 12,375 $ 6,118 $ 124
Net (Loss) Income per share, basic and diluted $ (0.16 ) $ (0.05 ) $ (0.11 ) $ 0.10 $ 0.05 $
 

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