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
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.