First Quarter 2018 Highlights:
- Revenue at $98.6 million, 3.5% sequential growth and in-line with expectations
- Company continuing to execute as planned; reports high level of customer activity across a wide range of product families
- Gross Margin improves sequentially to 57.3%
- Net Loss of $0.05 on a GAAP basis and Net Income of $0.05 on a Non-GAAP Basis
- Board of Directors adds three new, highly qualified, independent directors
* 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) — April 26, 2018 — Lattice Semiconductor Corporation (NASDAQ: LSCC), a leading provider of customizable smart connectivity solutions, announced financial results today for the fiscal first quarter ended March 31, 2018.
Selected Q1 2018 Financial Results and Comparisons (in thousands, except per share data)
| GAAP — Three Months Ended | Non-GAAP — Three Months Ended | |||||||||||||||||||||||
|
March 31,
2018 |
December 30,
2017 |
April 1,
2017 |
March 31,
2018 |
December 30,
2017 |
April 1,
2017 |
|||||||||||||||||||
| Revenue | $ | 98,623 | $ | 95,266 | $ | 104,587 | $ | 98,623 | $ | 95,266 | $ | 104,587 | ||||||||||||
| Gross Margin % | 57.3 | % | 53.8 | % | 58.2 | % | 57.6 | % | 54.0 | % | 58.4 | % | ||||||||||||
| Operating Expense | $ | 57,316 | $ | 51,937 | $ | 61,534 | $ | 45,421 | $ | 44,054 | $ | 47,679 | ||||||||||||
| Net (Loss) Income | $ | (5,952 | ) | $ | (7,213 | ) | $ | (7,275 | ) | $ | 6,118 | $ | 1,038 | $ | 7,111 | |||||||||
| Net (Loss) Income per share, basic and diluted | $ | (0.05 | ) | $ | (0.06 | ) | $ | (0.06 | ) | $ | 0.05 | $ | 0.01 | $ | 0.06 | |||||||||
