Lattice Semiconductor Reports Fourth Quarter and Full Year 2015 Results

Financial Highlights*:

  • Fourth quarter 2015 revenue of $101.2 million on a GAAP basis and $101.3 million on a non-GAAP basis (excluding $7 million of forecasted Q4 revenue from an IP contract that will now be recognized as revenue when payments are received).
  • Fourth quarter 2015 net loss of $45.5 million or $0.38 per basic and diluted share on a GAAP basis, and net loss of $5.0 million or $0.04 per basic and diluted share on a non-GAAP basis.
  • Fourth quarter 2015 operating expenses of $90.6 million on a GAAP basis (includes a $21.7 million impairment of goodwill and intangible assets), and $51.9 million on a non-GAAP basis.
  • Fourth quarter 2015 gross margin of 53.5% on a GAAP basis and 54.6% on a non-GAAP basis.
  • Fiscal year 2015 revenue of $406.0 million on a GAAP basis and $411.2 million on a non-GAAP basis.
  • Fiscal year 2015 net loss of $159.2 million or $1.36 per basic and diluted share on a GAAP basis, and a net loss of $15.0 million or $0.13 per basic and diluted share on a non-GAAP basis
  • Fiscal year 2015 operating expenses of $327.1 million on a GAAP basis and $218.3 million on a non-GAAP basis.
  • Fiscal year 2015 gross margin of 54.2% on a GAAP basis and 56.2% on a non-GAAP basis.

* 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) — February 17, 2016 — Lattice Semiconductor Corporation (NASDAQ: LSCC), the global leader in smart connectivity solutions, announced financial results today for the fiscal fourth quarter and full year ended January 2, 2016.

The Company reported revenues on a GAAP basis for the fourth quarter of 2015 of $101.2 million, which was down 7.8% sequentially, as compared to the third quarter 2015 revenue of $109.7 million, and was up 21.1%, as compared to the fourth quarter 2014 revenue of $83.6 million, which was prior to our acquisition of Silicon Image. Revenue for the fourth quarter of 2015 was $101.3 million on a non-GAAP basis. Gross margin on a GAAP basis was 53.5% for the fourth quarter of 2015, as compared to the third quarter of 2015 gross margin of 54.5% and 55.3% for the fourth quarter of 2014. Gross margin for the fourth quarter of 2015 was 54.6% on a non-GAAP basis, as compared to 55.7% for the third quarter of 2015. Total operating expenses for the fourth quarter of 2015 were $51.9 million on a non-GAAP basis, as compared to $57.6 million for the third quarter of 2015.

Net loss for the fourth quarter on a GAAP basis was $45.5 million ($0.38 per basic and diluted share), and net loss on a non-GAAP basis of $5.0 million ($0.04 per basic and diluted share) for the fourth quarter of 2015. GAAP results for the fourth quarter of 2015 reflect $3.5 million in restructuring costs, $0.4 million in acquisition related charges, $3.5 million in tax expense, $8.8 million in amortization of acquired intangible assets, $21.7 million in impairment of goodwill and intangible assets, and $4.8 million in stock-based compensation expense. This compares to a net loss on a GAAP basis in the prior quarter of $24.9 million ($0.21 per basic and diluted share), with a net loss on a non-GAAP basis in the prior quarter of $5.2 million ($0.04 per basic and diluted share), and compares to net income on a GAAP basis in the year ago period of $15.4 million ($0.13 per basic and diluted share), or $8.3 million ($0.07 per basic and diluted share) on a non-GAAP basis. GAAP results for the third quarter of 2015 reflect $6.8 million in restructuring costs, $0.6 million in acquisition related charges, $0.3 million in tax expense, $8.9 million in amortization of acquired intangible assets, and $4.2 million in stock-based compensation expense.

For the fiscal year 2015, revenue was $406.0 million on a GAAP basis, an increase of 10.9% from $366.1 million in the fiscal year 2014. Revenue for the fiscal year 2015 was $411.2 million on a non-GAAP basis. Net loss on a GAAP basis for fiscal year 2015 was $159.2 million ($1.36 per basic and diluted share), compared to a net income of $48.6 million ($0.41 per basic and $0.40 per diluted share) reported in fiscal year 2014. Net loss for the fiscal year 2015 was $15.0 million ($0.13 per basic and diluted share) on a non-GAAP basis, compared to net income of $57.1 million ($0.49 per basic and $0.47 per diluted share) for the fiscal year 2014. GAAP results for the fiscal year 2015 reflect $19.2 million in restructuring costs, $22.5 million in acquisition related charges, $32.5 million in tax expense, $29.6 million in amortization of acquired intangible assets, $21.7 million in impairment of goodwill and intangible assets, and $17.4 million in stock-based compensation expense.

1 | 2 | 3 | 4 | 5 | 6  Next Page »
Featured Video
Jobs
Design Verification Engineer for Blockwork IT at Milpitas, California
CAD Engineer for Nvidia at Santa Clara, California
Sr. Silicon Design Engineer for AMD at Santa Clara, California
Senior Firmware Architect - Server Manageability for Nvidia at Santa Clara, California
GPU Design Verification Engineer for AMD at Santa Clara, California
Senior Platform Software Engineer, AI Server - GPU for Nvidia at Santa Clara, California
Upcoming Events
Phil Kaufman Award Ceremony and Banquet to be held November 6 at Hayes Mansion at Hayes Mansion 200 Edenvale Ave San Jose CA - Nov 6, 2024
SEMICON Europa 2024 at Messe München München Germany - Nov 12 - 15, 2024
DVCon Europe 2023 at Holiday Inn Munich – City Centre Munich Germany - Nov 14 - 15, 2024
SEMI MEMS & Imaging Sensors Summit, at International Conference Center Munich Germany - Nov 14, 2024



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise