5, 2022 for its newest power-efficient FPGA platform, Lattice Avant™, which will significantly expand its product portfolio, double the addressable market and create new greenfield revenue opportunities for Lattice.īusiness Outlook - Fourth Quarter of 2022: Lattice Receives Back-to-Back Sustainability Awards: Lattice was named a 2022 Global Sustainability Leadership Award winner by the Business Intelligence Group for the second consecutive year.Įxpanded Stock Repurchase Program: Lattice's Board of Directors authorized the Company to repurchase up to an additional $150 million of its outstanding common stock through the end of December 2023.Īvant Launch Event: Lattice will hold a launch event on Monday, Dec.
Profit Expansion: Gross margin expanded 600 basis points on a GAAP basis and 590 basis points on a non-GAAP basis compared to Q3 2021, with net income per diluted share increasing 74% on a GAAP basis and 71% on a non-GAAP basis compared to Q3 2021.Ĭontinued Portfolio Expansion: Lattice introduced CertusPro-NX FPGAs optimized for Automotive applications, with best-in-class power efficiency, performance, and small form factor. Record Revenue: Revenue increased 31% in Q3 2022 compared to Q3 2021 and 7% compared to Q2 2022, which represented the seventh consecutive quarter of double-digit growth on a year-over-year basis. Selected Third Quarter 2022 Financial Results and Comparisons (in thousands, except per share data) We drove strong cash flow generation and executed our eighth consecutive quarter of share buybacks." Sherri Luther, CFO, said, "In Q3 2022, we achieved operating profit of 28.3% on a GAAP basis and a record 39.7% on a non-GAAP basis with continued gross margin expansion of 600 basis points on a GAAP basis and 590 basis points on a non-GAAP basis compared to Q3 2021. We are pleased with the continued growth in our existing products and very excited about the expansion of our product portfolio into new greenfield opportunities with the December launch of Lattice Avant™." Topline growth was driven by our strategic segments of industrial and automotive, as well as communications and computing. Jim Anderson, president and CEO, said, "We delivered solid results with 31% year-over-year revenue growth in Q3 2022, and a 73% year-over-year increase in net income on a GAAP basis and 68% on a non-GAAP basis.
Lattice Semiconductor Corporation (NASDAQ: LSCC), the low power programmable leader, announced financial results today for the fiscal third quarter ended October 1, 2022. 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. 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. Generally Accepted Accounting Principles.
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