Earnings release
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EX - 99.1 2 ex_251638.htm EXHIBIT 99.1 LATTICE SEMICONDUCTOR .. CONTACTS 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 LATTICE SEMICONDUCTOR REPORTS SECOND QUARTER 2021 RESULTS Exhibit 99.1 NEWS RELEASE • Revenue increases 25 % compared to Q2 2020 and 9 % compared to Q1 2021 • Gross Margin Expands to 61.3 % / 62.1 % for Q2 2021 on a GAAP / Non - GAAP Basis , from 60.2 % / 61.3 % , respectively , for Q2 2020 • Net Income Improves to $ 0.15 / $ 0.25 Per Diluted Share for Q2 2021 on a GAAP / Non - GAAP Basis , Compared to $ 0.08 / $ 0.17 , respectively , for Q2 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 - August 3 , 2021 - Lattice Semiconductor Corporation ( NASDAQ : LSCC ) , the low power programmable leader , announced financial results today for the fiscal second quarter ended July 3 , 2021 . Jim Anderson , president and CEO , said , " We drove 25 % year - over - year revenue growth , with a 49 % expansion in non - GAAP net income year - over - year . Strong revenue growth was driven by double - digit growth in each of our market segments based on the strength of our market leading portfolio . We are excited to be in a new growth phase , with multiple growth vectors across our end markets . " 1 Sherri Luther , CFO , said , " We achieved record operating profit of 18.5 % on a GAAP basis and 29.1 % on a non - GAAP basis , while driving gross margin expansion of 110 basis points on a GAAP basis and 80 basis points on a non - GAAP basis compared to Q2 2020 . Year to date , we generated $ 71 million in cash flow from operations and repurchased $ 40 million of the Company's shares . "