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Mar 30, 2024
Lattice Q1 2024 Earnings Report
Lattice Semiconductor reported first quarter 2024 results, impacted by cyclic industry headwinds but positioned for long-term growth.
Key Takeaways
Lattice Semiconductor's first quarter 2024 revenue was $140.8 million. GAAP gross margin was 68.3% and GAAP net income was $0.11 per diluted share. On a non-GAAP basis, gross margin was 69% with net income per diluted share of $0.29.
First quarter 2024 results came in as expected.
Results reflect the near-term impact of cyclic industry headwinds.
Company is well-positioned for the long-term due to product portfolio expansion.
Company executed fourteenth consecutive quarter of share repurchases.
Lattice
Lattice
Forward Guidance
Revenue for the second quarter of 2024 is expected to be between $120 million and $140 million.