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 First QUARTER 2021 RESULTS

 

  Revenue Increases 19% Compared to Q1 2020 and 8% compared to Q4 2020  
 

Gross Margin Expands to 61.0% / 61.7% for Q1 2021 on a GAAP / Non-GAAP Basis, from 59.1% / 59.8%, respectively, for Q1 2020
  Net Income Improves to $0.13 / $0.22 Per Diluted Share for Q1 2021 on a GAAP / Non-GAAP Basis, Compared to $0.06 / $0.15, respectively, for Q1 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 - May 4, 2021 -

Lattice Semiconductor Corporation (NASDAQ: LSCC), the low power programmable leader, announced financial results today for the fiscal first quarter ended April 3, 2021.

 

Jim Anderson, president and CEO, said, "We grew revenue 19% in Q1 year-over-year, along with a 52% expansion in non-GAAP net income year-over-year. Revenue from our new Lattice Nexus™ platform increased sequentially in Q1 2021, and we began production of our second Nexus device, Certus™-NX. Our recent addition to the S&P MidCap 400 Index recognizes our strong financial results, innovation and momentum. We are excited to be entering a new growth phase for the Company and look forward to providing a full business update at our Investor Day on May 11."

 

Sherri Luther, CFO, said, "We drove record operating profit of 17.8% on a GAAP basis and 28.0% on a non-GAAP basis, along with gross margin expansion of 190 basis points on both a GAAP and non-GAAP basis compared to Q1 2020.  We generated $29 million in cash flow from operations in the quarter and repurchased $15 million of the Company's shares."

 

1

The following information was filed by Lattice Semiconductor Corp (LSCC) on Tuesday, May 4, 2021 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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