News Releases

• Revenue Increases 28.1% for the Full Year 2022 Compared to the Full Year 2021; Q4 2022 Revenue Increases 24.1% Compared to Q4 2021
• Gross Margin Expands to 69.4% / 70.0% for Q4 2022 on a GAAP / Non-GAAP Basis, from 64.2% / 65.1%, respectively, for Q4 2021
• Net Income Improves to $0.37 / $0.49 Per Diluted Share for Q4 2022 on a GAAP / Non-GAAP Basis, Compared to $0.20 / $0.32, respectively, for Q4 2021
• Full Year 2022 Net Income increases to $1.27 / $1.75 Per Diluted Share on a GAAP / Non-GAAP Basis, Compared to $0.67 / $1.06, respectively, for the Full Year 2021

* 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, Ore.--(BUSINESS WIRE)--Feb. 13, 2023-- Lattice Semiconductor Corporation (NASDAQ: LSCC), the low power programmable leader, announced financial results today for the fiscal fourth quarter and full year ended December 31, 2022.

Jim Anderson, president and CEO, said, "We grew revenue 28% for the full year 2022, with continued strong growth in our strategic segments of industrial and automotive, and communications and computing. We delivered 86% annual growth in net income on a GAAP basis and 64% on a non-GAAP basis. In December, we launched the Lattice Avant™ platform, which doubles our addressable market and creates new greenfield growth opportunities. As we begin 2023, while we’re certainly not immune to any macro-economic challenges impacting the industry, the Company is well positioned in secular growth markets, with an expanding product portfolio, accelerating customer momentum and strong financial execution."

Sherri Luther, CFO, said, "In Q4 2022, revenue increased 24%, marking the eleventh consecutive quarter of sequential growth. We achieved record operating profit of 30.7% on a GAAP basis and 40.2% on a non-GAAP basis, while driving gross margin expansion of 520 basis points on a GAAP basis and 490 basis points on a non-GAAP basis compared to Q4 2021. We generated a record level of cash flow from operations, with a 42% increase compared to the prior year. In addition, since beginning our share repurchase program nine quarters ago, we have repurchased approximately 3.6 million shares, with 290,000 shares repurchased in Q4 2022."

Selected Fourth Quarter and Full Year 2022 Financial Results and Comparisons (in thousands, except per share data)

		GAAP Financial Results (unaudited)
		Q4 2022		Q3 2022		Q4 2021		Q/Q		Y/Y		FY 2022		FY 2021		FY/FY
Revenue		$ 175,960		$ 172,509		$ 141,795		2.0%		24.1%		$ 660,356		$ 515,327		28.1%
Gross Margin %		69.4%		68.8%		64.2%		60 bps		520 bps		68.5%		62.4%		610 bps
R&D Expense %		19.8%		20.2%		21.3%		(40) bps		(150) bps		20.6%		21.4%		(80) bps
SG&A Expense %		18.4%		18.5%		20.2%		(10) bps		(180) bps		18.5%		20.5%		(200) bps
Operating Expenses		$ 68,050		$ 69,930		$ 61,244		(2.7)%		11.1%		$ 264,683		$ 220,859		19.8%
Income from Operations		$ 54,016		$ 48,802		$ 29,836		10.7%		81.0%		$ 187,367		$ 100,816		85.9%
Net Income		$ 51,913		$ 46,359		$ 28,532		12.0%		81.9%		$ 178,882		$ 95,922		86.5%
Net Income per Share - Basic		$ 0.38		$ 0.34		$ 0.21		$ 0.04		$ 0.17		$ 1.30		$ 0.70		$ 0.60
Net Income per Share - Diluted		$ 0.37		$ 0.33		$ 0.20		$ 0.04		$ 0.17		$ 1.27		$ 0.67		$ 0.60

		Non-GAAP* Financial Results (unaudited)
		Q4 2022		Q3 2022		Q4 2021		Q/Q		Y/Y		FY 2022		FY 2021		FY/FY
Revenue		$ 175,960		$ 172,509		$ 141,795		2.0%		24.1%		$ 660,356		$ 515,327		28.1%
Gross Margin %		70.0%		69.5%		65.1%		50 bps		490 bps		69.1%		63.2%		590 bps
R&D Expense %		16.8%		17.1%		18.0%		(30) bps		(120) bps		17.4%		18.4%		(100) bps
SG&A Expense %		13.1%		12.6%		13.9%		50 bps		(80) bps		13.0%		14.6%		(160) bps
Operating Expenses		$ 52,469		$ 51,342		$ 45,752		2.2%		14.7%		$ 200,997		$ 170,022		18.2%
Income from Operations		$ 70,653		$ 68,512		$ 46,609		3.1%		51.6%		$ 255,363		$ 155,758		63.9%
Net Income		$ 68,367		$ 66,492		$ 45,345		2.8%		50.8%		$ 246,679		$ 150,864		63.5%
Net Income per Share - Basic		$ 0.50		$ 0.48		$ 0.33		$ 0.02		$ 0.17		$ 1.80		$ 1.10		$ 0.70
Net Income per Share - Diluted		$ 0.49		$ 0.48		$ 0.32		$ 0.01		$ 0.17		$ 1.75		$ 1.06		$ 0.69

Fourth Quarter and Full Year 2022 Highlights:

	•	Revenue Growth: Q4 2022 revenue increased 24% year-over-year, marking the eleventh consecutive quarter of sequential growth. Revenue for the full year 2022 increased 28% compared to 2021.
	•	Margin Expansion: Gross margin expanded 520 basis points on a GAAP basis and 490 basis points on a non-GAAP basis compared to Q4 2021. For the full year 2022, gross margin expanded 610 basis points on a GAAP basis and 590 basis points on a non-GAAP basis compared to 2021.
	•	Successful Lattice Avant™ Launch: Lattice launched its newest power-efficient FPGA platform, Lattice Avant™, significantly expanding its product portfolio, doubling the addressable market and creating new greenfield revenue growth opportunities.
	•	Lattice Receives Multiple Industry Awards: For the third year in a row, Lattice received the Global Semiconductor Alliance (GSA) Most Respected Public Semiconductor Company Award. Lattice won the 2022 SEAL Sustainability Award and was a 2023 BIG Innovation Awards winner for the Lattice Avant™ FPGA platform.
	•	2023 Analyst and Investor Day: Lattice Semiconductor expects to hold its 2023 Analyst and Investor Day on Monday, May 15, 2023 at Nasdaq's MarketSite in Times Square, New York City.

Business Outlook - First Quarter of 2023:

	•	Revenue for the first quarter of 2023 is expected to be between $175 million and $185 million.
	•	Gross margin percentage for the first quarter of 2023 is expected to be 70% plus or minus 1% on a non-GAAP basis.
	•	Total operating expenses for the first quarter of 2023 are expected to be between $53 million and $55 million on a non-GAAP basis.

Non-GAAP Financial Measures: In addition to financial measures prepared in accordance with generally accepted accounting principles (GAAP), this earnings release makes reference to non-GAAP financial measures. With respect to the outlook for the first quarter of 2023, certain items that affect GAAP measurement of financial measures for gross margin percentage and total operating expenses is not accessible on a forward-looking basis because such items cannot be reasonably predicted without unreasonable efforts due to the unpredictability of the amounts and timing of events affecting the items we exclude from non-GAAP measures . Consequently, the Company is unable to provide a reasonable estimate of GAAP measurement for non-GAAP gross margin percentage or non-GAAP total operating expenses for first quarter guidance or a corresponding reconciliation to GAAP for the quarter. Additional information regarding the reasons the Company uses non-GAAP measures, a reconciliation of these measures to the most directly comparable GAAP measures, and other information relating to these measures are included below, following the GAAP financial information.

Investor Conference Call / Webcast Details:

Lattice Semiconductor will review the Company's financial results for the fiscal fourth quarter and full year 2022, and business outlook on Monday, February 13 at 5:00 p.m. Eastern Time. The dial-in number for the live audio call is 1-877-407-3982 or 1-201-493-6780 with conference identification number 13735470. A live webcast of the conference call will also be available on the investor relations section of www.latticesemi.com. The Company's financial guidance will be limited to the comments on its public quarterly earnings call and the public business outlook statements contained in this press release.

Forward-Looking Statements Notice:

The foregoing paragraphs contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, that involve estimates, assumptions, risks and uncertainties. Any statements about our expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. Such forward-looking statements include, but are not limited to, statements relating to our market position in secular growth markets; the size of our addressable market, new greenfield growth opportunities; our product portfolio expansion; accelerating customer momentum; strong financial execution; and the statements under the heading “Business Outlook - First Quarter of 2023.” Other forward-looking statements may be indicated by words such as “will,” “could,” “should,” “would,” “may,” “expect,” “plan,” “project,” “anticipate,” “intend,” “forecast,” “future,” “believe,” “estimate,” “predict,” “propose,” “potential,” “continue” or the negative of these terms or other comparable terminology.

Estimates of future revenue are inherently uncertain due to such factors such as global economic conditions which may affect customer demand, pricing and inflationary pressures, competitive actions, and international trade disputes and sanctions. In addition, the ongoing COVID-19 pandemic continues to impact the overall economy and, as a result of the foregoing, may negatively impact our operating results for future periods. Actual gross margin percentage and operating expenses could vary from the estimates on the basis of, among other things, changes in revenue levels, changes in product pricing and mix, changes in wafer, assembly, test and other costs, variations in manufacturing yields, the failure to sustain operational improvements, and the actual amount of compensation charges due to stock price changes. Actual results may differ materially from our expectations and are subject to risks and uncertainties that relate more broadly to our overall business, including those described in Item 1A in Lattice’s most recent Annual Report on Form 10-K and as may be supplemented from time-to-time in Lattice’s other filings with the Securities and Exchange Commission, all of which are expressly incorporated herein by reference.

Further economic and market disruptions from COVID-19 may increase or change the severity of our other risks reported in Item 1A in Lattice’s most recent Annual Report on Form 10-K. Lattice believes these and other risks and uncertainties could cause actual results to differ materially from the forward-looking statements. New risk factors emerge from time to time and it is not possible for Lattice’s management to predict all risk factors. You should not unduly rely on forward-looking statements because actual results could differ materially from those expressed in any forward-looking statements. In addition, any forward-looking statement applies only as of the date on which it is made. The Company does not intend to update or revise any forward-looking statements, whether as a result of events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Non-GAAP Financial Measures:

Included within this press release and the accompanying tables and notes are certain non-GAAP financial measures that supplement the Company's consolidated financial information prepared in accordance with U.S. GAAP, including non-GAAP gross margin, gross margin percentage, R&D expense, SG&A expense, operating expenses, income from operations, other (expense) income, net, income tax expense, net income, net income per share – basic, and net income per share - diluted. The non-GAAP measures presented exclude charges and adjustments primarily related to stock-based compensation and related tax effects, litigation expense outside the ordinary course of business, amortization of acquired intangible assets, restructuring plans and other charges, and the estimated tax effect of these items. These charges and adjustments are a result of periodic or non-core operating activities of the Company. The Company describes these non-GAAP financial measures and reconciles them to the most directly comparable GAAP measures in the tables and notes attached to this press release.

The Company's management believes that these non-GAAP financial measures provide an additional and useful way of viewing aspects of our performance that, when viewed in conjunction with our GAAP results, provide a more comprehensive understanding of the various factors and trends affecting our ongoing financial performance and operating results than GAAP measures alone. Management also uses these non-GAAP measures for strategic and business decision-making, internal budgeting, forecasting, and resource allocation processes and believes that investors should have access to similar data.

These non-GAAP measures are included solely for informational and comparative purposes and are not meant as a substitute for GAAP and should be considered together with the consolidated financial information located in the tables attached to this press release.

About Lattice Semiconductor Corporation:

Lattice Semiconductor (NASDAQ: LSCC) is the low power programmable leader. We solve customer problems across the network, from the Edge to the Cloud, in the growing communications, computing, industrial, automotive and consumer markets. Our technology, long-standing relationships, and commitment to world-class support let our customers quickly and easily unleash their innovation to create a smart, secure, and connected world.

For more information about Lattice, please visit www.latticesemi.com. You can also follow us via LinkedIn, Twitter, Facebook, YouTube, WeChat, Weibo or Youku.

Lattice Semiconductor Corporation Consolidated Statements of Operations (in thousands, except per share data) (unaudited)
		Three Months Ended												Year Ended
		December 31,				October 1,				January 1,				December 31,				January 1,
		2022				2022				2022				2022				2022
Revenue		$	175,960			$	172,509			$	141,795			$	660,356			$	515,327
Cost of sales			53,894				53,777				50,715				208,306				193,652
Gross margin			122,066				118,732				91,080				452,050				321,675
Operating expenses:
Research and development			34,779				34,820				30,229				135,767				110,518
Selling, general, and administrative			32,355				31,926				28,646				122,076				105,617
Amortization of acquired intangible assets			870				869				804				3,778				2,613
Restructuring			46				2,315				394				2,551				940
Acquisition related charges			—				—				1,171				511				1,171
Total operating expenses			68,050				69,930				61,244				264,683				220,859
Income from operations			54,016				48,802				29,836				187,367				100,816
Interest expense			(1,280	)			(1,267	)			(657	)			(4,146	)			(2,738	)
Other (expense) income, net			(24	)			(820	)			(68	)			(1,109	)			(452	)
Income before income taxes			52,712				46,715				29,111				182,112				97,626
Income tax expense (benefit)			799				356				579				3,230				1,704
Net income		$	51,913			$	46,359			$	28,532			$	178,882			$	95,922
Net income per share:
Basic		$	0.38			$	0.34			$	0.21			$	1.30			$	0.70
Diluted		$	0.37			$	0.33			$	0.20			$	1.27			$	0.67
Shares used in per share calculations:
Basic			137,095				137,267				137,048				137,321				136,619
Diluted			139,631				139,935				141,587				140,667				142,143

Lattice Semiconductor Corporation Condensed Consolidated Balance Sheets (in thousands) (unaudited)
		December 31,				January 1,
		2022				2022
Assets
Current assets:
Cash and cash equivalents		$	145,722			$	131,570
Accounts receivable, net			94,018				79,859
Inventories, net			110,375				67,594
Other current assets			29,052				22,328
Total current assets			379,167				301,351
Property and equipment, net			47,614				38,094
Operating lease right-of-use assets			17,590				23,818
Intangible assets, net			25,070				29,782
Goodwill			315,358				315,358
Other long-term assets			13,914				18,091
		$	798,713			$	726,494
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable		$	42,036			$	34,597
Accrued expenses			48,467				26,444
Accrued payroll obligations			36,870				27,967
Current portion of long-term debt			—				17,173
Total current liabilities			127,373				106,181
Long-term debt, net of current portion			128,752				140,760
Long-term operating lease liabilities, net of current portion			13,618				19,248
Other long-term liabilities			41,807				48,672
Total liabilities			311,550				314,861
Stockholders' equity			487,163				411,633
		$	798,713			$	726,494

Lattice Semiconductor Corporation Condensed Consolidated Statements of Cash Flows (in thousands) (unaudited)
		Year Ended
		December 31,				January 1,
		2022				2022
Cash flows from operating activities:
Net income		$	178,882			$	95,922
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Stock-based compensation expense			55,530				46,475
Depreciation and amortization			29,323				24,429
Other non-cash adjustments			8,303				6,348
Net changes in assets and liabilities			(33,232	)			(5,452	)
Net cash provided by (used in) operating activities			238,806				167,722
Cash flows from investing activities:
Cash paid for business acquisition, net of cash acquired			—				(68,099	)
Capital expenditures			(23,338	)			(9,835	)
Other investing activities			(11,594	)			(11,862	)
Net cash provided by (used in) investing activities			(34,932	)			(89,796	)
Cash flows from financing activities:
Proceeds from long-term debt, net of issuance costs			148,597				—
Repayment of long-term debt			(178,750	)			(13,125	)
Repurchase of common stock			(110,132	)			(70,124	)
Net cash flows related to stock compensation exercises			(47,787	)			(45,364	)
Net cash provided by (used in) financing activities			(188,072	)			(128,613	)
Effect of exchange rate change on cash			(1,650	)			(75	)
Net increase (decrease) in cash and cash equivalents			14,152				(50,762	)
Beginning cash and cash equivalents			131,570				182,332
Ending cash and cash equivalents		$	145,722			$	131,570
Supplemental disclosure of cash flow information and non-cash investing and financing activities:
Interest paid		$	3,973			$	2,313
Income taxes paid, net of refunds		$	4,621			$	3,304

Lattice Semiconductor Corporation Supplemental Historical Financial Information (unaudited)
		Three Months Ended												Year Ended
		December 31,				October 1,				January 1,				December 31,				January 1,
		2022				2022				2022				2022				2022
Balance Sheet Information
A/R Days Revenue Outstanding (DSO)			49				53				51
Inventory Days (DIO)			187				159				122
Revenue% (by Geography)
Asia			65	%			72	%			71	%			71	%			74	%
Americas			19	%			13	%			19	%			15	%			16	%
Europe (incl. Africa)			16	%			15	%			10	%			14	%			10	%
Revenue% (by End Market)
Communications and Computing			40	%			41	%			43	%			42	%			42	%
Industrial and Automotive			51	%			50	%			42	%			48	%			44	%
Consumer			6	%			6	%			9	%			7	%			10	%
Licensing and Services			3	%			3	%			6	%			3	%			4	%
Revenue% (by Channel)
Distribution			89	%			90	%			86	%			89	%			87	%
Direct			11	%			10	%			14	%			11	%			13	%

Lattice Semiconductor Corporation Reconciliation of U.S. GAAP to Non-GAAP Financial Measures (in thousands, except per share data) (unaudited)
		Three Months Ended												Year Ended
		December 31,				October 1,				January 1,				December 31,				January 1,
		2022				2022				2022				2022				2022
Gross Margin Reconciliation
GAAP Gross margin		$	122,066			$	118,732			$	91,080			$	452,050			$	321,675
Stock-based compensation - gross margin (1)			1,056				1,122				1,281				4,310				4,105
Non-GAAP Gross margin		$	123,122			$	119,854			$	92,361			$	456,360			$	325,780

Gross Margin % Reconciliation
GAAP Gross margin %			69.4	%			68.8	%			64.2	%			68.5	%			62.4	%
Cumulative effect of non-GAAP Gross Margin adjustments			0.6	%			0.7	%			0.9	%			0.6	%			0.8	%
Non-GAAP Gross margin %			70.0	%			69.5	%			65.1	%			69.1	%			63.2	%

Research and Development Expense % (R&D Expense %) Reconciliation
GAAP R&D Expense %			19.8	%			20.2	%			21.3	%			20.6	%			21.4	%
Stock-based compensation - R&D (1)			(3.0	)%			(3.1	)%			(3.3	)%			(3.2	)%			(3.0	)%
Non-GAAP R&D Expense %			16.8	%			17.1	%			18.0	%			17.4	%			18.4	%

Selling, General, and Administrative Expense % (SG&A Expense %) Reconciliation
GAAP SG&A Expense %			18.4	%			18.5	%			20.2	%			18.5	%			20.5	%
Stock-based compensation - SG&A (1)			(4.7	)%			(4.9	)%			(6.3	)%			(5.1	)%			(5.9	)%
Litigation expense (2)			(0.6	)%			(1.0	)%			—	%			(0.4	)%			—	%
Non-GAAP SG&A Expense %			13.1	%			12.6	%			13.9	%			13.0	%			14.6	%

Operating Expenses Reconciliation
GAAP Operating expenses		$	68,050			$	69,930			$	61,244			$	264,683			$	220,859
Stock-based compensation - operations (1)			(13,584	)			(13,758	)			(13,658	)			(54,119	)			(46,113	)
Litigation expense (2)			(1,081	)			(1,646	)			—				(2,727	)			—
Amortization of acquired intangible assets			(870	)			(869	)			(804	)			(3,778	)			(2,613	)
Restructuring and other charges (3)			(46	)			(2,315	)			(1,030	)			(3,062	)			(2,111	)
Non-GAAP Operating expenses		$	52,469			$	51,342			$	45,752			$	200,997			$	170,022

Income from Operations Reconciliation
GAAP Income from operations		$	54,016			$	48,802			$	29,836			$	187,367			$	100,816
Stock-based compensation - gross margin (1)			1,056				1,122				1,281				4,310				4,105
Stock-based compensation - operations (1)			13,584				13,758				13,658				54,119				46,113
Litigation expense (2)			1,081				1,646				—				2,727				—
Amortization of acquired intangible assets			870				869				804				3,778				2,613
Restructuring and other charges (3)			46				2,315				1,030				3,062				2,111
Non-GAAP Income from operations		$	70,653			$	68,512			$	46,609			$	255,363			$	155,758

Income from Operations % Reconciliation
GAAP Income from operations %			30.7	%			28.3	%			21.0	%			28.4	%			19.6	%
Cumulative effect of non-GAAP Gross Margin and Operating adjustments			9.5	%			11.4	%			11.9	%			10.3	%			10.6	%
Non-GAAP Income from operations %			40.2	%			39.7	%			32.9	%			38.7	%			30.2	%

(1)		The non-GAAP adjustments for Stock-based compensation include related tax expenses.
(2)		Legal expenses associated with the defense of claims that are outside the ordinary course of business that were brought against the Company by Steven A.W. De Jaray, Perienne De Jaray and Darrell R. Oswalde.
(3)		Other charges includes Acquisition related charges in 2021 YTD of $1.2 million.

Lattice Semiconductor Corporation Reconciliation of U.S. GAAP to Non-GAAP Financial Measures (in thousands, except per share data) (unaudited)
		Three Months Ended												Year Ended
		December 31,				October 1,				January 1,				December 31,				January 1,
		2022				2022				2022				2022				2022
Other (Expense) Income Reconciliation
GAAP Other (expense) income, net		$	(24	)		$	(820	)		$	(68	)		$	(1,109	)		$	(452	)
Loss on re-financing of long-term debt			4				735				—				739				—
Non-GAAP Other (expense) income, net		$	(20	)		$	(85	)		$	(68	)		$	(370	)		$	(452	)

Income Tax Expense (Benefit) Reconciliation
GAAP Income tax expense (benefit)		$	799			$	356			$	579			$	3,230			$	1,704
Estimated tax effect of non-GAAP adjustments (4)			187				312				(40	)			938				—
Non-GAAP Income tax expense (benefit)		$	986			$	668			$	539			$	4,168			$	1,704

Net Income Reconciliation
GAAP Net income		$	51,913			$	46,359			$	28,532			$	178,882			$	95,922
Stock-based compensation - gross margin (1)			1,056				1,122				1,281				4,310				4,105
Stock-based compensation - operations (1)			13,584				13,758				13,658				54,119				46,113
Litigation expense (2)			1,081				1,646				—				2,727				—
Amortization of acquired intangible assets			870				869				804				3,778				2,613
Restructuring and other charges (3)			46				2,315				1,030				3,062				2,111
Loss on re-financing of long-term debt			4				735				—				739				—
Estimated tax effect of non-GAAP adjustments (4)			(187	)			(312	)			40				(938	)			—
Non-GAAP Net income		$	68,367			$	66,492			$	45,345			$	246,679			$	150,864

Net Income Per Share Reconciliation
GAAP Net income per share - basic		$	0.38			$	0.34			$	0.21			$	1.30			$	0.70
Cumulative effect of Non-GAAP adjustments			0.12				0.14				0.12				0.50				0.40
Non-GAAP Net income per share - basic		$	0.50			$	0.48			$	0.33			$	1.80			$	1.10
GAAP Net income per share - diluted		$	0.37			$	0.33			$	0.20			$	1.27			$	0.67
Cumulative effect of Non-GAAP adjustments			0.12				0.15				0.12				0.48				0.39
Non-GAAP Net income per share - diluted		$	0.49			$	0.48			$	0.32			$	1.75			$	1.06
Shares used in per share calculations:
Basic			137,095				137,267				137,048				137,321				136,619
Diluted			139,631				139,935				141,587				140,667				142,143

(1)		The non-GAAP adjustments for Stock-based compensation include related tax expenses.
(2)		Legal expenses associated with the defense of claims that are outside the ordinary course of business that were brought against the Company by Steven A.W. De Jaray, Perienne De Jaray and Darrell R. Oswalde.
(3)		Other charges includes Acquisition related charges in 2021 YTD of $1.2 million.
(4)		We calculate non-GAAP tax expense by applying our tax provision model to year-to-date and projected income after adjusting for non-GAAP items. The difference between calculated values for GAAP and non-GAAP tax expense has been included as the “Estimated tax effect of non-GAAP adjustments.”

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20230213005567/en/

MEDIA:
Sophia Hong
Lattice Semiconductor Corporation
503-268-8786
Sophia.Hong@latticesemi.com

INVESTORS:
Rick Muscha
Lattice Semiconductor Corporation
408-826-6000
Rick.Muscha@latticesemi.com

 

Source: Lattice Semiconductor Corporation