Lattice Semiconductor Corporation (NASDAQ: LSCC), the low power
programmable leader, today detailed its business strategy, long
term financial model, and announced the Company’s debt refinancing
at its Financial Analyst Day today at NASDAQ’s MarketSite in Times
Square, New York City. A webcast replay and copies of the
presentation are available on the Investor Relations section of
www.LatticeSemi.com.
Jim Anderson, President and Chief Executive Officer, said,
"Lattice products and solutions are well positioned in the high
value portion of the semiconductor industry with a number of
long-term secular growth trends underneath them. We have broad
customer relationships that we are building on, a streamlined
R&D strategy, and a robust product pipeline. We have a
re-energized team and we plan to expand profitability and cash flow
from operations in the coming years as we continue to execute and
unlock additional value for the Company and shareholders.”
Additional Financial Analyst Day Presentation
Highlights:
- Esam Elashmawi, Chief Marketing and
Strategy Officer, detailed Lattice’s SAM expansion and compelling
opportunities in its growing communications, computing, industrial,
automotive, and consumer markets.
- Steve Douglass, Corporate Vice
President, R&D, outlined Lattice’s new R&D strategy and
strengthened product roadmap anchored by Lattice sensAI and
MachXO3D, which both launched today.
- Mark Nelson, Corporate Vice President,
Worldwide Sales, detailed Lattice’s significant value creation
opportunities through its focused customer engagement
strategy.
- Sherri Luther, Chief Financial Officer,
outlined the Company’s improved financial performance, gross margin
expansion strategy, and its long-term financial model.
Lattice concluded its Financial Analyst Day by saying that its
growing markets, accelerating innovation, and expanding customer
footprint, should accelerate the Company’s profitable revenue
growth and firmly establish Lattice’s position as the low power
programmable leader.
Forward-Looking Statements Notice:
The foregoing paragraphs contain forward-looking statements that
involve estimates, assumptions, risks and uncertainties. Any
statements about our expectations, beliefs, plans, objectives,
assumptions or future events or performance are not historical
facts and may be forward-looking. Such forward-looking statements
include statements regarding our belief that a number of long-term
secular growth trends will drive our product and solutions, our
intention to expand profitability and cashflow from operations in
the coming years and to continue to unlock value for the Company
and its shareholders, our belief that our communications,
computing, industrial, automotive and consumer markets are growing
and our belief that we will grow markets, accelerate innovation,
expand customer footprint, and accelerate the company’s profitable
revenue growth and firmly establish our position as the low power
programmable leader. Other forward-looking statements may be
indicated by words such as “will,” “could,” “should,” “would,”
“may,” “expect,” “plan,” “project,” “anticipate,” “intend,”
“forecast,” “future,” “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 statements.
Estimates of future revenue are inherently uncertain due to such
factors as global economic conditions, which may affect customer
demand, pricing pressures, competitive actions, the demand for our
Mature, Mainstream and New products, international trade disputes
and sanctions, 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. 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 global economic
uncertainty, overall semiconductor market conditions, market
acceptance and demand for our new products, the Company's
dependencies on its silicon wafer suppliers, the impact of
competitive products and pricing, technological and product
development risks. In addition, actual results are subject to other
risks and uncertainties that relate more broadly to our overall
business, including those risks more fully described in Lattice’s
filings with the SEC including its Annual Report on Form 10-K for
the fiscal year ended December 29, 2018, and Lattice’s quarterly
reports filed on Form 10-Q.
You should not unduly rely on forward-looking statements because
actual results could differ materially from those expressed in any
forward-looking statements. In addition, any forward-looking
statement applies only as of the date on which it is made. 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 unanticipated
events.
About Lattice Semiconductor
Lattice Semiconductor (NASDAQ: LSCC) is the low power
programmable leader. We solve customer problems across the network,
from the Edge to the Cloud, in the growing communications,
computing, industrial, automotive and consumer markets. Our
technology, long-standing relationships, and commitment to
world-class support lets our customers quickly and easily unleash
their innovation to create a smart, secure and connected world.
For more information about Lattice, please
visit www.latticesemi.com. You can also follow us
via LinkedIn, Twitter, Facebook, YouTube, WeChat,
Weibo or Youku.
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version on businesswire.com: https://www.businesswire.com/news/home/20190520005325/en/
For more information contact:MEDIA CONTACT:Lattice
Semiconductor CorporationDoug Hunter,
503.268.8512doug.hunter@latticesemi.com
INVESTOR CONTACT:Global IR PartnersDavid Pasquale,
914.337.8801lscc@globalirpartners.com
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