Lattice Semiconductor will review the Company's financial results for the fiscal first quarter 2022, and business outlook on Tuesday, May 3 at 5:00 p.m. Investor Conference Call / Webcast Details: 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. Consequently, the Company is unable to provide a reasonable estimate of GAAP measurement for guidance or a corresponding reconciliation to GAAP for the quarter. With respect to the outlook for the second quarter of 2022, certain items that affect GAAP measurement of financial measures are out of the Company’s control and/or cannot be reasonably predicted. 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. Total operating expenses for the second quarter of 2022 are expected to be between $48 million and $50 million on a non-GAAP basis.
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Gross margin percentage for the second quarter of 2022 is expected to be 68% plus or minus 1% on a non-GAAP basis. Revenue for the second quarter of 2022 is expected to be between $153 million and $163 million. Lattice Wins Back-to-Back Cyber Security Awards: For the second year in a row, Lattice was named a Cyber Security Global Excellence Awards® winner, with the Lattice SupplyGuard™ service and Lattice Sentry™ solution stack both winning in the Cyber Security Solution & Service category.īusiness Outlook - Second Quarter of 2022: Lattice CertusPro-NX, delivers best-in-class system bandwidth, industry-leading power efficiency, and support for a wide range of markets and applications.Įxpanded Lattice mVision™ Solution Stack Capabilities: Based on the popular Lattice Nexus™ platform, the latest Lattice mVision™ Solution Stack enhancements help accelerate the development of low power embedded vision applications, including Machine Vision, Robotics, ADAS and Video Surveillance. Lattice CertusPro™ -NX Begins Shipping: Lattice CertusPro-NX, a new advanced general-purpose FPGA family and the fourth device family in the Nexus platform, began production shipments to customers in Q1 2022. Profit Expansion: Gross margin expanded 590 basis points on a GAAP basis and 600 basis points on a non-GAAP basis compared to Q1 2021, with net income per diluted share increasing 100% on a GAAP basis and 68% on a non-GAAP basis compared to Q1 2021. Revenue Growth: Fifth consecutive quarter of double-digit growth year-over-year, with revenue increasing 30% in Q1 2022 compared to Q1 2021 and 6% compared to Q4 2021. Lattice’s strong revenue and profit growth are driven by our strategic focus and expansion in secular growth markets, our rapidly expanding product portfolio, and our relentless focus on execution." Jim Anderson, president and CEO, said, "We drove 30% year-over-year revenue growth in Q1 2022, with a year-over-year increase in net income of 92% on a GAAP basis and 72% on a non-GAAP basis. HILLSBORO, Ore., May 03, 2022-( BUSINESS WIRE)-Lattice Semiconductor Corporation (NASDAQ: LSCC), the low power programmable leader, announced financial results today for the fiscal first quarter ended April 2, 2022. 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. 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. Generally Accepted Accounting Principles. Net Income improves to $0.26 / $0.37 per diluted share for Q1 2022 on a GAAP / Non-GAAP basis, compared to $0.13 / $0.22, respectively, for Q1 2021 Gross Margin expands to 66.9% / 67.7% for Q1 2022 on a GAAP / Non-GAAP basis, compared to 61.0% / 61.7%, respectively, for Q1 2021 Revenue increases 30% compared to Q1 2021 and 6% compared to Q4 2021
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