Lattice Semiconductor Corp · Q1 2020 earnings

Briefing

Lattice Semiconductor reported first quarter 2020 results, demonstrating gross margin expansion and increased profitability.

Lattice Semiconductor reported a solid Q1 2020 with gross margin expansion and increased profitability. Diluted EPS was up 20% on a GAAP basis and up 36% on a non-GAAP basis compared to Q1 2019. The company generated $21 million in cash flow from operations and ended the quarter with $177 million in cash on hand.

• Gross margin expanded to 59.1% on a GAAP basis and 59.8% on a non-GAAP basis.
• Operating margin reached 10.0% on a GAAP basis and 22.7% on a non-GAAP basis.
• Net income improved to $0.06 per diluted share on a GAAP basis and $0.15 on a non-GAAP basis.
• The company launched the mVision™ Solutions Stack for low power embedded vision design.

Headline financials

Revenue & EPS history

Lattice Semiconductor expects revenue between $95 million and $105 million, and a gross margin percentage of 60% plus or minus 1% on a non-GAAP basis. Total operating expenses are expected to be between $36 million and $37 million on a non-GAAP basis for the second quarter of 2020.