SOURCE: Lattice Semiconductor Corporation

Lattice Semiconductor Corporation

September 09, 2010 16:00 ET

Lattice Semiconductor Reiterates Guidance for Third Quarter 2010

HILLSBORO, OR--(Marketwire - September 9, 2010) - Lattice Semiconductor (NASDAQ: LSCC) today reiterated its guidance for the third quarter ending October 2, 2010.

  • Third quarter revenue is expected to be flat to up 5% on a sequential basis.
  • Gross margin percentage is expected to be approximately 59% to 61% of revenue.
  • Total operating expenses are expected to be approximately $31.0 million.
  • Lattice also reiterates its expectation for continued profitability in the third quarter of 2010.

No conference call will be held in conjunction with this guidance update. Additional information related to the third quarter will be available when the Company reports its third quarter 2010 results.

Forward-Looking Statements:

The foregoing business update contains forward-looking statements including statements relating to our business outlook: including our revenue, gross margin and operating expense expectations, and to our expectation of continued profitability in the third quarter of 2010. Lattice believes the factors identified below in connection with each such statement 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, as well as such factors as the demand for our products, and our ability to supply products to customers in a timely manner. Our backlog is subject to cancellation and includes expected shipments to distributors, which may not be shipped to their end customers in the same quarter we ship them and which accordingly may not be recorded as revenue in that same quarter. Our estimate of gross margin percentage may be affected by a number of factors including, among other things, unanticipated changes in product mix or pricing requirements. Our estimate of operating expenses could be affected by unanticipated expenses during the final month of the quarter. Our expectations with respect to restructuring of our distribution model can be adversely affected if our new distribution partners are not as successful as our former distribution partners or if the transition is not accepted by our end-user customers. Our fair value estimate of auction rate securities may experience an other-than-temporary decline in fair value if we continue to experience unsuccessful auctions, or if the credit rating of the auction rate securities or auction rate issuers deteriorate. 

In addition to the foregoing, other factors that may cause actual results to differ materially from the forward-looking statements herein include global economic uncertainty, overall semiconductor market conditions, our dependence on the communications end market, market acceptance and demand for our new and existing products, our dependencies on our silicon wafer suppliers, the impact of competitive products and pricing, technological and product development risks, the compromised liquidity of our auction rate securities and the other risks that are described herein and that are otherwise described from time to time in our filings with the Securities and Exchange Commission. 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.

About Lattice Semiconductor:

Lattice is the source for innovative FPGA, PLD, programmable Power Management and Clock Management solutions. For more information, visit www.latticesemi.com

Lattice Semiconductor Corporation, Lattice (& design) and L (& design) are either registered trademarks or trademarks of Lattice Semiconductor Corporation or its subsidiaries in the United States and/or other countries.

Contact Information

  • For more information contact:
    Michael G. Potter
    Chief Financial Officer
    Lattice Semiconductor Corporation
    503-268-8000

    David Pasquale
    Global IR Partners
    914-337-8801
    lscc@globalirpartners.com