Earnings release
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EX - 99.1 2 ex_282359.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 THIRD QUARTER 2021 RESULTS Exhibit 99.1 NEWS RELEASE • Revenue increases 28 % compared to Q3 2020 and 5 % compared to Q2 2021 • Gross Margin Expands to 62.8 % / 63.6 % for Q3 2021 on a GAAP / Non - GAAP Basis , from 60.5 % / 61.5 % , respectively , for Q3 2020 • Net Income Improves to $ 0.19 / $ 0.28 Per Diluted Share for Q3 2021 on a GAAP / Non - GAAP Basis , Compared to $ 0.09 / $ 0.19 , respectively , for Q3 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 - November 2 , 2021 - Lattice Semiconductor Corporation ( NASDAQ : LSCC ) , the low power programmable leader , announced financial results today for the fiscal third quarter ended October 2 , 2021 . Jim Anderson , president and CEO , said , " We drove 28 % year - over - year revenue growth , with a year - over - year increase in net income of 112 % on a GAAP basis and 49 % on a non - GAAP basis . We saw strong revenue growth across all of our end markets , as we continued to expand our leadership product portfolio . " 1 Sherri Luther , CFO , said , " We achieved record operating profit of 20.5 % on a GAAP basis and 30.4 % on a non - GAAP basis , while driving gross margin expansion of 230 basis points on a GAAP basis and 210 basis points on a non - GAAP basis compared to Q3 2020. Year to date , we generated $ 116 million in cash flow from operations and repurchased $ 55 million of the Company's shares . "