Lattice Semiconductor Updates 1Q13 Guidance
HILLSBORO, OR -- (Marketwire) -- 03/19/13 -- Lattice Semiconductor
Corporation (NASDAQ: LSCC) today updated its guidance for the first
quarter ending March 30, 2013 to reflect customer demand strength in
the communications and consumer market segments.
-- Revenue for the first quarter 2013 is now expected to increase
approximately 6% to 8% on a sequential basis. This compares to prior
guidance provided on January 24, 2013 that revenue was expected to
decline approximately 2% to 4% on a sequential basis.
-- Due to the higher expected revenue contribution from the
communications and consumer market segments, gross margin percentage
is now expected to be at the lower end of the Company's prior guidance
of approximately 54% plus or minus 2%.
-- Total operating expenses are expected to be approximately $35.5
million, including approximately $0.5 million in restructuring
charges. This is unchanged from prior guidance.
No conference call will be held in conjunction with this guidance
update. Additional information will be available when the Company
reports its first quarter 2013 results.
The foregoing paragraphs contain forward-looking statements that
involve estimates, assumptions, risks and uncertainties. Such
forward-looking statements include statements relating to our
business outlook, expected revenue, gross margin, total operating
expenses, and projected restructuring charges. Other forward-looking
statements may be indicated by words such as "will," "could,"
"should," "would," "expect," "plan," "anticipate," "intend,"
"forecast," "believe," "estimate," "predict," "propose," "potential,"
"continue" or the negative of these terms or other comparable
terminology. Lattice believes the factors identified below could
cause actual results to differ materially from the forward-looking
Estimates of future revenue are inherently uncertain due to, among
other things, the high percentage of quarterly "turns" business. In
addition, revenue is affected by such factors as global economic
conditions, which may affect customer demand, pricing pressures,
competitive actions, the demand for our Mature, Mainstream and New
roducts, the ability to supply products to customers in a timely
manner, changes in our distribution relationships, or the volatility
of our consumer business. Actual gross margin percentage and
operating expenses could vary from the estimates on the basis of,
among other things, changes in revenue levels, changes in product
pricing and mix, changes in wafer, assembly, test and other costs,
including commodity costs, variations in manufacturing yields, the
failure to sustain operational improvements, the actual amount of
compensation charges due to stock price changes. Further, the impact
of any restructuring, including the restructuring actions initiated
during the fourth quarter of 2012, will depend on, among other
factors, the final actions taken, negotiation of related expenses
with third parties, the timing of restructuring activities and the
ability of the Company to successfully reallocate functions formerly
addressed by the employees and other resources eliminated in the
restructuring. Any unanticipated declines in revenue or gross margin,
any unanticipated increases in our operating expenses or
unanticipated charges could adversely affect our profitability.
In addition to the foregoing, other factors that may cause actual
results to differ materially from the forward-looking statements in
this press release include the Company's dependencies on its silicon
wafer and other suppliers, global economic uncertainty, overall
semiconductor market conditions, market acceptance and demand for our
new products, the impact of competitive products and pricing,
technological and product development risks, and the other risks that
are described in this press release and that are otherwise described
from time to time in our filings with the Securities and Exchange
Commission. The Company does not intend to update or revise any
forward-looking statements, whether as a result of events or
circumstances after the date hereof or to reflect the occurrence of
About Lattice Semiconductor
Lattice is a service-driven developer of innovative low cost, low
power programmable design solutions. For more information about how
our FPGA, CPLD and programmable power management devices help our
customers unlock their innovation, visit www.latticesemi.com. You can
also follow us via Twitter, Facebook, or RSS.
Lattice Semiconductor Corporation, Lattice (& design), L (& design),
iCE40 and specific product designations are either registered
trademarks or trademarks of Lattice Semiconductor Corporation or its
subsidiaries in the United States and/or other countries.
GENERAL NOTICE: Other product names used in this publication are for
identification purposes only and may be trademarks of their
For more information contact:
Chief Financial Officer
Lattice Semiconductor Corporation
Global IR Partners
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