Lattice Semiconductor Reports Third Quarter 2015 Results
Third Quarter 2015 Financial Highlights*:
-
Revenue of
$109.7 million on a GAAP basis and$110.1 million on a non-GAAP basis. -
Net loss of
$24.9 million or$0.21 per basic and diluted share on a GAAP basis, and a net loss of$5.2 million or$0.04 per basic and diluted share on a non-GAAP basis -
Operating Expenses of
$77.8 million on a GAAP basis and$57.6 million on a non-GAAP basis. - Gross margin of 54.5% on a GAAP basis and 55.7% 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."
The Company reported revenues on a GAAP basis for the third quarter of
2015 of
Net loss for the third quarter on a GAAP basis was
Recent Business Highlights
-
Expands superMHL™ and HDMI® Video Solutions for Tomorrow’s Living
Room: Lattice’s new SiI9398 receiver and SiI9630 transmitter can
deliver 8K 60fps with 12-bit color utilizing multi-lane superMHL
technology. They also support the HDMI 2.0 specification at full
18Gbps. Both chips offer key features such as
High Dynamic Range (HDR) and an expanded color gamut to deliver true-to-life picture quality from set-top boxes (STBs), game consoles, and media players to TVs and monitors over a single, reversible cable. - New 60GHz WirelessHD® Modules: Lattice’s SiBEAM® announced new WirelessHD MOD6320-T transmitter and MOD6321-R receiver modules that operate over the 60GHz millimeter wave frequency band. Based on production-proven WirelessHD chipsets already shipping in consumer electronic devices, the modules deliver visually lossless 1080p video streams at up to 60 frames per second and are an ideal video cable replacement solution in medical or industrial operating environments where cables are safety hazards.
- Launches ECP5 Versa Development Kit: Lattice’s ECP5 development kit is helping customers accelerate prototyping and testing of connectivity designs targeted for small cells, microserver, broadband access, and industrial video applications worldwide. The ECP5 family’s low power consumption, small form factor and low cost make it an ideal connectivity solution and enables design engineers to rapidly add features and functions that complement those delivered by ASICs and ASSPs, reducing development risk and accelerating time-to-market. ECP5 devices have proven to be an ideal companion chip for ASICs and ASSPs.
-
Expands USB Type-C Product Family With Cost-Optimized,
Low-Power Solutions: Lattice expanded its USB Type-C product family with the introduction of its latest SiI7012, SiI7013 and SiI7014 port controllers. Lattice devices deliver space, cost and power efficient designs that provide flexibility, enabling rapid adoption for manufacturers transitioning to the latest USB Type-C interfaces. These three new designs join Lattice’s existing USB Type-C port controllers to deliver a comprehensive product portfolio. - Releases World's First superMHL Solutions for USB Type-C: Lattice announced the world’s first superMHL™ products for USB Type-C to deliver 4K 60fps RGB/4:4:4 video with concurrent USB 3.1 Gen 1 or Gen 2 data. The SiI8630 and SiI9396 are a low-power superMHL transmitter and receiver pair that can deliver and receive 4K 60fps over a single lane, enabling a PC experience with USB Type-C devices.
Business Outlook - Fourth Quarter 2015:
- Revenue for the fourth quarter of 2015 is expected to be approximately flat to plus or minus 3% on a non-GAAP basis, as compared to the third quarter of 2015.
- Gross margin percentage for the fourth quarter of 2015 is expected to be approximately 57.0% plus or minus 2% on a non-GAAP basis.
-
Total operating expenses, excluding acquisition or restructuring
related charges, are expected to be approximately
$49 million plus or minus 3% on a non-GAAP basis for the fourth quarter of 2015. -
Restructuring charges are expected to be approximately
$7 million for the fourth quarter of 2015. -
Acquisition related charges, including amortization of acquired
intangible assets are expected to be approximately
$9.5 million in the fourth quarter of 2015.
Investor Conference Call / Webcast Details:
A replay of the call will be available approximately 2 hours after the
conclusion of the live call through
Forward-Looking Statements Notice:
The foregoing paragraphs contain forward-looking statements that involve estimates, assumptions, risks and uncertainties. Such forward-looking statements include statements relating to: our confidence that we will emerge even stronger when macro conditions improve; our belief that lowering our cost structure, delivering more world-class products to customers, and winning design opportunities continues to be the key to improved profitability and increased shareholder value; our belief that additional incremental savings will result from the recent action taken to balance our infrastructure; and those statements under the heading “Business Outlook - Fourth Quarter 2015” relating to expected revenue, gross margin, total operating expenses, restructuring charges, synergies and acquisition charges, including amortization of acquired intangible assets. Other forward-looking statements may be indicated by words such as “will,” “could,” “should,” “would,” “expect,” “plan,” “anticipate,” “intend,” “forecast,” “believe,” “estimate,” “predict,” “propose,” “potential,” “continue” or the negative of these terms or other comparable terminology. Lattice believes the factors identified below could cause actual results to differ materially from the forward-looking statements.
Estimates of future revenue are inherently uncertain due to, among other things, the high percentage of quarterly “turns” business. In addition, revenue is affected by such factors as global economic conditions, which may affect customer demand, pricing pressures, competitive actions, the demand for our products, and in particular our iCE40™ and MachXO3L™ devices, the ability to supply products to customers in a timely manner, changes in our distribution relationships, or the volatility of our consumer business. 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, including commodity costs, variations in manufacturing yields, the failure to sustain operational improvements, the actual amount of compensation charges due to stock price changes. Any unanticipated declines in revenue or gross margin, any unanticipated increases in our operating expenses or unanticipated charges could adversely affect our profitability. In addition, our results could vary due to our acquisition of Silicon Image. We have not had experience operating Silicon Image or projecting its operating results. The acquisition of another company carries inherent risks, including our discovering unknown liabilities or encountering unanticipated issues relating to integrating the business with ours. Any unanticipated declines in revenue or gross margin, any unanticipated increases in our operating expenses or unanticipated charges, including without limitation, restructuring charges, or issues with integrating Silicon Image, could adversely affect our profitability.
In addition to the foregoing, other factors that may cause actual
results to differ materially from the forward-looking statements in this
press release include global economic uncertainty, overall semiconductor
market conditions, market acceptance and demand for our new products,
the Company's dependencies on its silicon wafer suppliers, the impact of
competitive products and pricing, technological and product development
risks, and the other risks that are described in this press release and
that are otherwise described from time to time in our filings with the
Non-GAAP Financial Measures:
Included within this press release and the accompanying tables and notes are non-GAAP financial measures that supplement the Company's consolidated financial information prepared under GAAP. 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 measures provide a more meaningful representation of the Company’s ongoing financial performance than GAAP measures alone. In addition, the Company uses Adjusted EBITDA to measure compliance with certain of its debt covenants. 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 was founded in 1983 and is headquartered in
For more information, visit www.latticesemi.com.
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GENERAL NOTICE: Other product names used in this publication are for identification purposes only and may be trademarks of their respective holders.
|
Lattice Semiconductor Corporation Consolidated Statements of Operations (in thousands, except per share data) (unaudited) |
|||||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||
| October 3, | July 4, | September 27, | October 3, | September 27, | |||||||||||||||||
| 2015 | 2015 | 2014 | 2015 | 2014 | |||||||||||||||||
| Revenue | $ | 109,715 | $ | 106,460 | $ | 86,570 | $ | 304,772 | $ | 282,527 | |||||||||||
| Costs and expenses: | |||||||||||||||||||||
| Cost of sales | 49,866 | 48,334 | 35,759 | 138,965 | 122,603 | ||||||||||||||||
| Research and development | 37,619 | 39,552 | 22,053 | 104,813 | 65,594 | ||||||||||||||||
| Selling, general and administrative | 23,819 | 28,189 | 17,645 | 73,096 | 55,226 | ||||||||||||||||
| Acquisition related charges | 610 | 3,270 | — | 22,078 | — | ||||||||||||||||
| Restructuring | 6,818 | 4,068 | 2 | 15,780 | 16 | ||||||||||||||||
| Amortization of acquired intangible assets | 8,941 | 8,941 | 737 | 20,824 | 2,211 | ||||||||||||||||
| 127,673 | 132,354 | 76,196 | 375,556 | 245,650 | |||||||||||||||||
| (Loss) income from operations | (17,958 | ) | (25,894 | ) | 10,374 | (70,784 | ) | 36,877 | |||||||||||||
| Interest expense | (5,754 | ) | (5,505 | ) | — | (12,870 | ) | (48 | ) | ||||||||||||
| Other (expense) income, net | (943 | ) | (201 | ) | 53 | (1,298 | ) | 1,316 | |||||||||||||
| (Loss) income before income taxes | (24,655 | ) | (31,600 | ) | 10,427 | (84,952 | ) | 38,145 | |||||||||||||
| Income tax expense | 309 | 4,056 | 1,021 | 29,030 | 4,984 | ||||||||||||||||
| Net (loss) income | (24,964 | ) | (35,656 | ) | 9,406 | (113,982 | ) | 33,161 | |||||||||||||
| Net loss attributable to non-controlling interest | 102 | 86 | — | 203 | — | ||||||||||||||||
| Net (loss) income attributable to common stockholders | $ | (24,862 | ) | $ | (35,570 | ) | $ | 9,406 | $ | (113,779 | ) | $ | 33,161 | ||||||||
| Net (loss) income per share: | |||||||||||||||||||||
| Basic | $ | (0.21 | ) | $ | (0.30 | ) | $ | 0.08 | $ | (0.97 | ) | $ | 0.28 | ||||||||
| Diluted | $ | (0.21 | ) | $ | (0.30 | ) | $ | 0.08 | $ | (0.97 | ) | $ | 0.28 | ||||||||
| Shares used in per share calculations: | |||||||||||||||||||||
| Basic | 117,669 | 116,903 | 118,643 | 117,151 | 117,661 | ||||||||||||||||
| Diluted | 117,669 | 116,903 | 120,970 | 117,151 | 120,449 | ||||||||||||||||
|
Lattice Semiconductor Corporation Consolidated Balance Sheets (in thousands) (unaudited) |
||||||||
|
October 3, 2015 |
January 3, 2015 |
|||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash, cash equivalents and short-term marketable securities | $ | 118,446 | $ | 254,844 | ||||
| Accounts receivable, net | 85,341 | 62,372 | ||||||
| Inventories | 79,027 | 64,925 | ||||||
| Other current assets | 16,662 | 16,281 | ||||||
| Total current assets | 299,476 | 398,422 | ||||||
| Property and equipment, net | 50,462 | 27,796 | ||||||
| Other long-term assets | 9,611 | 9,862 | ||||||
| Intangible assets, net of amortization | 180,285 | 9,537 | ||||||
| Goodwill | 280,209 | 44,808 | ||||||
| Deferred income taxes | 3,754 | 20,105 | ||||||
| $ | 823,797 | $ | 510,530 | |||||
| Liabilities and Stockholders' Equity | ||||||||
| Current liabilities: | ||||||||
| Accounts payable and other accrued liabilities | $ | 85,914 | $ | 45,800 | ||||
| Current portion of long-term debt | 407 | — | ||||||
| Deferred income and allowances on sales to sell-through distributors and deferred license revenue | 21,639 | 14,946 | ||||||
| Total current liabilities | 107,960 | 60,746 | ||||||
| Long-term debt | 338,097 | — | ||||||
| Other long-term liabilities | 31,676 | 8,809 | ||||||
| Total liabilities | 477,733 | 69,555 | ||||||
| Redeemable non-controlling interest | 7,529 | — | ||||||
| Stockholders' equity | 338,535 | 440,975 | ||||||
| $ | 823,797 | $ | 510,530 | |||||
|
Lattice Semiconductor Corporation - Supplemental Historical Financial Information - (unaudited) |
||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||
| October 3, | July 4, | September 27, | October 3, | September 27, | ||||||||||||
| 2015 | 2015 | 2014 | 2015 | 2014 | ||||||||||||
| Operations Information | ||||||||||||||||
| Percent of Revenue | ||||||||||||||||
| Gross Margin | 54.5 | % | 54.6 | % | 58.7 | % | 54.4 | % | 56.6 | % | ||||||
| R&D Expense | 34.3 | % | 37.2 | % | 25.5 | % | 34.4 | % | 23.2 | % | ||||||
| SG&A Expense | 21.7 | % | 26.5 | % | 20.4 | % | 24.0 | % | 19.5 | % | ||||||
| Depreciation and amortization (in thousands) | 17,553 | 17,459 | 5,240 | 42,916 | 16,873 | |||||||||||
| Capital expenditures (in thousands) | 4,552 | 4,155 | 1,998 | 11,585 | 6,873 | |||||||||||
| Stock-based compensation (in thousands) | 4,198 | 4,979 | 3,134 | 12,561 | 9,544 | |||||||||||
| Stock-based compensation included in acquisition related charges (in thousands) | 402 | — | — | 4,293 | — | |||||||||||
| Restructuring and severance related charges (in thousands) | 6,818 | 4,068 | 76 | 15,780 | 569 | |||||||||||
| Severance costs included in acquisition related charges (in thousands) | — | — | — | 4,017 | — | |||||||||||
| Taxes paid (cash, in thousands) | 2,291 | 2,049 | 292 | 5,403 | 1,090 | |||||||||||
| Balance Sheet Information | ||||||||||||||||
| Current Ratio | 2.8 | 2.8 | 6.4 | |||||||||||||
| A/R Days Revenue Outstanding | 71 | 66 | 52 | |||||||||||||
| Inventory Months | 4.8 | 5.0 | 5.6 | |||||||||||||
| Revenue% (by Geography) | ||||||||||||||||
| Asia | 79 | % | 78 | % | 73 | % | 76 | % | 74 | % | ||||||
| Europe (incl. Africa) | 12 | % | 13 | % | 17 | % | 14 | % | 16 | % | ||||||
| Americas | 9 | % | 9 | % | 10 | % | 10 | % | 10 | % | ||||||
| Revenue% (by End Market) (1) | ||||||||||||||||
| Communications | 26 | % | 23 | % | 41 | % | 28 | % | 42 | % | ||||||
| Consumer | 33 | % | 37 | % | 23 | % | 31 | % | 27 | % | ||||||
| Industrial | 31 | % | 31 | % | 36 | % | 33 | % | 31 | % | ||||||
| Licensing | 10 | % | 9 | % | — | % | 8 | % | — | % | ||||||
| Revenue% (by Channel) | ||||||||||||||||
| Sell-through distribution | 46 | % | 43 | % | 51 | % | 45 | % | 44 | % | ||||||
| Direct | 54 | % | 57 | % | 49 | % | 55 | % | 56 | % | ||||||
(1) During the second quarter of fiscal 2014, the Company condensed its End Market categories. All periods presented have been revised accordingly.
|
Lattice Semiconductor Corporation - Reconciliation of U.S. GAAP to Non-GAAP Financial Measures - (in thousands, except per share data) (unaudited) |
|||||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||
| October 3, | July 4, | September 27, | October 3, | September 27, | |||||||||||||||||
| 2015 | 2015 | 2014 | 2015 | 2014 | |||||||||||||||||
| GAAP Revenue | $ | 109,715 | $ | 106,460 | $ | 86,570 | $ | 304,772 | $ | 282,527 | |||||||||||
| Fair Value Adjustment To Deferred Revenue From Purchase Accounting | 361 | 2,921 | — | 5,091 | — | ||||||||||||||||
| Non-GAAP Revenue | $ | 110,076 | $ | 109,381 | $ | 86,570 | $ | 309,863 | $ | 282,527 | |||||||||||
| GAAP Cost of Products Sold | $ | 49,866 | $ | 48,334 | $ | 35,759 | $ | 138,965 | $ | 122,603 | |||||||||||
| Fair Value Adjustment To Deferred Revenue From Purchase Accounting | 47 | 805 | — | 1,496 | — | ||||||||||||||||
| Inventory Step-Up Expense | (716 | ) | (1,605 | ) | — | (5,362 | ) | — | |||||||||||||
| Stock-Based Compensation - Gross Margin | (406 | ) | (398 | ) | (210 | ) | (1,044 | ) | (587 | ) | |||||||||||
| Non-GAAP Cost of Products Sold | $ | 48,791 | $ | 47,136 | $ | 35,549 | $ | 134,055 | $ | 122,016 | |||||||||||
| GAAP Gross Margin | $ | 59,849 | $ | 58,126 | $ | 50,811 | $ | 165,807 | $ | 159,924 | |||||||||||
| Fair Value Adjustment To Deferred Revenue From Purchase Accounting | 314 | 2,116 | — | 3,595 | — | ||||||||||||||||
| Inventory Step-Up Expense | 716 | 1,605 | — | 5,362 | — | ||||||||||||||||
| Stock-Based Compensation - Gross Margin | 406 | 398 | 210 | 1,044 | 587 | ||||||||||||||||
| Non-GAAP Gross Margin | $ | 61,285 | $ | 62,245 | $ | 51,021 | $ | 175,808 | $ | 160,511 | |||||||||||
| Non-GAAP Gross Margin % | 55.7 | % | 56.9 | % | 58.9 | % | 56.7 | % | 56.8 | % | |||||||||||
| GAAP Operating Expenses | $ | 77,807 | $ | 84,020 | $ | 40,437 | $ | 236,591 | $ | 123,047 | |||||||||||
| Restructuring | (6,818 | ) | (4,068 | ) | (2 | ) | (15,780 | ) | (16 | ) | |||||||||||
| Acquisition Related Charges (1) | (610 | ) | (3,270 | ) | — | (22,078 | ) | — | |||||||||||||
| Amortization of Acquired Intangible Assets | (8,941 | ) | (8,941 | ) | (737 | ) | (20,824 | ) | (2,211 | ) | |||||||||||
| Stock-Based Compensation - Operations | (3,792 | ) | (4,581 | ) | (2,924 | ) | (11,517 | ) | (8,957 | ) | |||||||||||
| Non-GAAP Operating Expenses | $ | 57,646 | $ | 63,160 | $ | 36,774 | $ | 166,392 | $ | 111,863 | |||||||||||
| GAAP (Loss) Income from Operations | $ | (17,958 | ) | $ | (25,894 | ) | $ | 10,374 | $ | (70,784 | ) | $ | 36,877 | ||||||||
| Fair Value Adjustment To Deferred Revenue From Purchase Accounting | 314 | 2,116 | — | 3,595 | — | ||||||||||||||||
| Inventory Step-Up Expense | 716 | 1,605 | — | 5,362 | — | ||||||||||||||||
| Stock-Based Compensation - Gross Margin | 406 | 398 | 210 | 1,044 | 587 | ||||||||||||||||
| Restructuring | 6,818 | 4,068 | 2 | 15,780 | 16 | ||||||||||||||||
| Acquisition Related Charges (1) | 610 | 3,270 | — | 22,078 | — | ||||||||||||||||
| Amortization of Acquired Intangible Assets | 8,941 | 8,941 | 737 | 20,824 | 2,211 | ||||||||||||||||
| Stock-Based Compensation - Operations | 3,792 | 4,581 | 2,924 | 11,517 | 8,957 | ||||||||||||||||
| Non-GAAP (Loss) Income from Operations | $ | 3,639 | $ | (915 | ) | $ | 14,247 | $ | 9,416 | $ | 48,648 | ||||||||||
| (1) Includes stock-based compensation and severance costs related to change in control. | |||||||||||||||||||||
| Lattice Semiconductor Corporation | |||||||||||||||||||||
| - Reconciliation of U.S. GAAP to Non-GAAP Financial Measures - | |||||||||||||||||||||
| (in thousands, except per share data) | |||||||||||||||||||||
| (unaudited) | |||||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||
| October 3, | July 4, | September 27, | October 3, | September 27, | |||||||||||||||||
| 2015 | 2015 | 2014 | 2015 | 2014 | |||||||||||||||||
| GAAP (Loss) Income before Income Taxes | $ | (24,655 | ) | $ | (31,600 | ) | $ | 10,427 | $ | (84,952 | ) | $ | 38,145 | ||||||||
| Fair Value Adjustment To Deferred Revenue From Purchase Accounting | 314 | 2,116 | — | 3,595 | — | ||||||||||||||||
| Inventory Step-Up Expense | 716 | 1,605 | — | 5,362 | — | ||||||||||||||||
| Stock-Based Compensation - Gross Margin | 406 | 398 | 210 | 1,044 | 587 | ||||||||||||||||
| Restructuring | 6,818 | 4,068 | 2 | 15,780 | 16 | ||||||||||||||||
| Acquisition Related Charges (1) | 610 | 3,270 | — | 22,078 | — | ||||||||||||||||
| Amortization of Acquired Intangible Assets | 8,941 | 8,941 | 737 | 20,824 | 2,211 | ||||||||||||||||
| Stock-Based Compensation - Operations | 3,792 | 4,581 | 2,924 | 11,517 | 8,957 | ||||||||||||||||
| Non-GAAP (Loss) Income before Income Taxes | $ | (3,058 | ) | $ | (6,621 | ) | $ | 14,300 | $ | (4,752 | ) | $ | 49,916 | ||||||||
| GAAP Income Tax Expense | $ | 309 | $ | 4,056 | $ | 1,021 | $ | 29,030 | $ | 4,984 | |||||||||||
| Non-cash Income Tax Expense | 1,982 | (2,007 | ) | (729 | ) | (23,627 | ) | (3,894 | ) | ||||||||||||
| Non-GAAP Income Tax Expense | $ | 2,291 | $ | 2,049 | $ | 292 | $ | 5,403 | $ | 1,090 | |||||||||||
| GAAP Net (Loss) Income Attributable to Common Stockholders | $ | (24,862 | ) | $ | (35,570 | ) | $ | 9,406 | $ | (113,779 | ) | $ | 33,161 | ||||||||
| Fair Value Adjustment To Deferred Revenue From Purchase Accounting | 314 | 2,116 | — | 3,595 | — | ||||||||||||||||
| Inventory Step-Up Expense | 716 | 1,605 | — | 5,362 | — | ||||||||||||||||
| Stock-Based Compensation - Gross Margin | 406 | 398 | 210 | 1,044 | 587 | ||||||||||||||||
| Restructuring | 6,818 | 4,068 | 2 | 15,780 | 16 | ||||||||||||||||
| Acquisition Related Charges (1) | 610 | 3,270 | — | 22,078 | — | ||||||||||||||||
| Amortization of Acquired Intangible Assets | 8,941 | 8,941 | 737 | 20,824 | 2,211 | ||||||||||||||||
| Stock-Based Compensation - Operations | 3,792 | 4,581 | 2,924 | 11,517 | 8,957 | ||||||||||||||||
| Non-cash Income Tax Expense | (1,982 | ) | 2,007 | 729 | 23,627 | 3,894 | |||||||||||||||
| Non-GAAP Net (Loss) Income Attributable to Common Stockholders | $ | (5,247 | ) | $ | (8,584 | ) | $ | 14,008 | $ | (9,952 | ) | $ | 48,826 | ||||||||
| (1) Includes stock-based compensation and severance costs related to change in control. | |||||||||||||||||||||
| Lattice Semiconductor Corporation | |||||||||||||||||||||
| - Reconciliation of U.S. GAAP to Non-GAAP Financial Measures - | |||||||||||||||||||||
| (in thousands, except per share data) | |||||||||||||||||||||
| (unaudited) | |||||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||
| October 3, | July 4, | September 27, | October 3, | September 27, | |||||||||||||||||
| 2015 | 2015 | 2014 | 2015 | 2014 | |||||||||||||||||
| GAAP Net (Loss) Income per Share - Basic | $ | (0.21 | ) | $ | (0.30 | ) | $ | 0.08 | $ | (0.97 | ) | $ | 0.28 | ||||||||
| Cumulative Effect of Non-GAAP Adjustments | 0.17 | 0.23 | 0.04 | 0.89 | 0.13 | ||||||||||||||||
| Non-GAAP Net (Loss) Income per Share - Basic | $ | (0.04 | ) | $ | (0.07 | ) | $ | 0.12 | $ | (0.08 | ) | $ | 0.41 | ||||||||
| GAAP Net (Loss) Income per Share - Diluted | $ | (0.21 | ) | $ | (0.30 | ) | $ | 0.08 | $ | (0.97 | ) | $ | 0.28 | ||||||||
| Cumulative Effect of Non-GAAP Adjustments | 0.17 | 0.23 | 0.04 | 0.89 | 0.13 | ||||||||||||||||
| Non-GAAP Net (Loss) Income per Share - Diluted | $ | (0.04 | ) | $ | (0.07 | ) | $ | 0.12 | $ | (0.08 | ) | $ | 0.41 | ||||||||
| Shares Used In Per Share Calculations: | |||||||||||||||||||||
| Basic | 117,669 | 116,903 | 118,643 | 117,151 | 117,661 | ||||||||||||||||
| Diluted | 117,669 | 116,903 | 120,970 | 117,151 | 120,449 | ||||||||||||||||
View source version on businesswire.com: http://www.businesswire.com/news/home/20151029006508/en/
Source:
Lattice Semiconductor Corporation
Joe Bedewi, 503-268-8000
Chief
Financial Officer
or
Global IR Partners
David Pasquale,
914-337-8801
lscc@globalirpartners.com