Exhibit 99.1

 

NEWS RELEASE

lcsslogo.jpg
 

CONTACTS

 

MEDIA:

INVESTORS:

Bob Nelson

Rick Muscha

Lattice Semiconductor Corporation

Lattice Semiconductor Corporation

408-826-6339

408-826-6000

Bob.Nelson@latticesemi.com

Rick.Muscha@latticesemi.com

 

LATTICE SEMICONDUCTOR REPORTS Third QUARTER 2020 RESULTS

 

 

Operating Profit Increases to 12.4% / 26.5% for Q3 2020 on a GAAP / Non-GAAP Basis, Compared to 12.4% / 24.9%, respectively, for Q2 2020 

 

Gross Margin Expands to 60.5% / 61.5% for Q3 2020 on a GAAP / Non-GAAP Basis, from 60.2% / 61.3%, respectively, for Q2 2020

 

Net Income Improves to $0.09 / $0.19 Per Diluted Share for Q3 2020 on a GAAP / Non-GAAP Basis, from $0.08 / $0.17, respectively, for Q2 2020   

 

* 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. Additional information relating to these measures is included below in “Non-GAAP Financial Measures.” For a reconciliation of GAAP to non-GAAP results, see accompanying tables "Reconciliation of U.S. GAAP to Non-GAAP Financial Measures."

 

HILLSBORO, OR - October 27, 2020 -

Lattice Semiconductor Corporation (NASDAQ: LSCC), the low power programmable leader, announced financial results today for the fiscal third quarter ended September 26, 2020.

 

Jim Anderson, president and CEO, said, "We expanded operating profit in Q3 driven by year-over-year growth in our key markets of communications and computing, and industrial and automotive.  In spite of a challenging environment this year, I am pleased with the progress we have made and excited about the continued potential of the company as we accelerate our product roadmap leadership, expand customer engagements and drive toward our long-term financial goals."

 

Sherri Luther, CFO, said, "We continued to see significant improvements in our key financial metrics for the third quarter of 2020 with diluted EPS increasing 13% on a GAAP basis and 12% on a non-GAAP basis compared to the prior quarter.  Gross margin expanded on both a GAAP and non-GAAP basis sequentially and year-over-year, as we benefited from our ongoing pricing optimization strategy, product cost reductions, and some mix contribution. Year to date, we generated approximately $69 million of cash flow from operations, and ended the third quarter of 2020 with a positive net cash position further reinforcing our commitment to ongoing cash generation."

 

1

The following information was filed by Lattice Semiconductor Corp (LSCC) on Tuesday, October 27, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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