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Jun 27, 2020
Lattice Q2 2020 Earnings Report
Lattice Semiconductor experienced revenue growth and improved profitability.
Key Takeaways
Lattice Semiconductor reported a 3% sequential revenue growth in Q2 2020, driven by strong demand in communications and computing. Non-GAAP net income increased by 17% compared to the same period last year. The company launched Certus-NX™ and Propel™ software solution and remains on track to achieve additional key milestones in the second half of 2020.
Revenue grew 3% sequentially, driven by communications and computing.
Gross margin expanded to 60.2% on a GAAP basis and 61.3% on a non-GAAP basis.
Net income per diluted share increased by 33% on a GAAP basis and 13% on a non-GAAP basis compared to Q2 2019.
Launched Certus™-NX General Purpose FPGA and Propel™ Software Solution.
Forward Guidance
Lattice Semiconductor expects revenue for Q3 2020 to be between $96 million and $106 million. Non-GAAP gross margin is expected to be 60.5% plus or minus 1%. Total operating expenses are expected to be between $36.5 million and $37.5 million on a non-GAAP basis.
Positive Outlook
- Revenue for the third quarter of 2020 is expected to be between $96 million and $106 million.
- Gross margin percentage for the third quarter of 2020 is expected to be 60.5% plus or minus 1% on a non-GAAP basis.
- Total operating expenses for the third quarter of 2020 are expected to be between $36.5 million and $37.5 million on a non-GAAP basis.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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