Earnings release
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EX - 99.1 2 ex_231817.htm EXHIBIT 99.1 LATTICE SEMICONDUCTOR .. CONTACTS MEDIA : Bo Lattice Semiconductor Corporation 408-826-6339 on Bob.Nelson@latticesemi.com INVESTORS : Rick Muscha Lattice Semiconductor Corporation 408-826-6000 Rick . Muscha@latticesemi.com LATTICE SEMICONDUCTOR REPORTS FIRST QUARTER 2021 RESULTS Exhibit 99.1 NEWS RELEASE • Revenue Increases 19 % Compared to Q1 2020 and 8 % compared to Q4 2020 • Gross Margin Expands to 61.0 % / 61.7 % for Q1 2021 on a GAAP / Non - GAAP Basis , from 59.1 % / 59.8 % , respectively , for Q1 2020 • Net Income Improves to $ 0.13 / $ 0.22 Per Diluted Share for Q1 2021 on a GAAP / Non - GAAP Basis , Compared to $ 0.06 / $ 0.15 , respectively , for Q1 2020 * 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 , OR - May 4 , 2021 - Lattice Semiconductor Corporation ( NASDAQ : LSCC ) , the low power programmable leader , announced financial results today for the fiscal first quarter ended April 3 , 2021 . Jim Anderson , president and CEO , said , " We grew revenue 19 % in Q1 year - over - year , along with a 52 % expansion in non - GAAP net income year - over - year . Revenue from our new Lattice Nexus ™ platform increased sequentially in Q1 2021 , and we began production of our second Nexus device , Certus ™ -NX . Our recent addition to the S & P MidCap 400 Index recognizes our strong financial results , innovation and momentum . We are excited to be entering a new growth phase for the Company and look forward to providing a full business update at our Investor Day on May 11. " 1 Sherri Luther , CFO , said , " We drove record operating profit of 17.8 % on a GAAP basis and 28.0 % on a non - GAAP basis , along with gross margin expansion of 190 basis points on both a GAAP and non - GAAP basis compared to Q1 2020. We generated $ 29 million in cash flow from operations in the quarter and repurchased $ 15 million of the Company's shares . "