Third Quarter 2018 Highlights:
- Net Income increases to $0.05 per share on a GAAP basis and Net Income of $0.11 per share on a Non-GAAP Basis; highest level since the third quarter of 2014
- Gross Margin improves to 57.5% on a GAAP basis and 57.4% on a non-GAAP basis
- Company makes additional $15 million discretionary debt payment, following $10 million discretionary payment in the second quarter of 2018
- Company makes several key executive leadership appointments; Appoints Jim Anderson, President and CEO; Esam Elashmawi, Chief Marketing and Strategy Officer; and Steve Douglass, Corporate Vice President, R&D
* 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) — October 25, 2018 — Lattice Semiconductor Corporation (NASDAQ: LSCC), a leading provider of customizable smart connectivity solutions, announced financial results today for the fiscal third quarter ended September 29, 2018.
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Selected Q3 2018 Financial Results and Comparisons (in thousands, except per share data) |
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| GAAP — Three Months Ended | Non-GAAP — Three Months Ended | |||||||||||||||||||||||
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September 29,
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June 30,
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September 30,
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September 29,
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June 30,
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September 30,
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| Revenue | $ | 101,484 | $ | 102,715 | $ | 91,971 | $ | 101,484 | $ | 102,715 | $ | 91,971 | ||||||||||||
| Gross Margin % | 57.5 | % | 48.9 | % | 58.0 | % | 57.4 | % | 57.2 | % | 58.1 | % | ||||||||||||
| Operating Expense | $ | 45,405 | $ | 63,812 | $ | 90,790 | $ | 38,417 | $ | 39,945 | $ | 44,578 | ||||||||||||
| Net Income (Loss) | $ | 6,974 | $ | (20,223 | ) | $ | (43,052 | ) | $ | 13,785 | $ | 12,375 | $ | 5,328 | ||||||||||
| Net Income (Loss) per share, basic and diluted | $ | 0.05 | $ | (0.16 | ) | $ | (0.35 | ) | $ | 0.11 | $ | 0.10 | $ | 0.04 | ||||||||||
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Results for periods in 2017 are presented in accordance with ASC 605, which was in effect during that fiscal year. |
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