Lattice Semiconductor Details Enhanced Business Strategy and Long-Term Model at Financial Analyst Day
HILLSBORO, Ore.--(BUSINESS WIRE)--May 20, 2019--
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.
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CONTACT: For more information contact:
Lattice Semiconductor Corporation
Doug Hunter, 503.268.8512
Global IR Partners
David Pasquale, 914.337.8801
KEYWORD: UNITED STATES NORTH AMERICA OREGON
INDUSTRY KEYWORD: TECHNOLOGY HARDWARE INTERNET NETWORKS SOFTWARE OTHER TECHNOLOGY SEMICONDUCTOR
SOURCE: Lattice Semiconductor Corporation
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