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Lattice Semiconductor Corporation: Lattice Announces Stock Repurchase Program

^{Published on 2008-12-22 07:19:17, Last Modified on 2009-11-02 16:21:05 - Market Wire}
 

HILLSBORO, OR--(Marketwire - December 22, 2008) - Lattice Semiconductor Corporation (NASDAQ: [ LSCC ]) announced today that its Board of Directors has approved a stock repurchase program pursuant to which up to $20 million of its outstanding common stock may be repurchased from time to time. The duration of the repurchase program is twelve months. Under the program, Lattice could purchase shares of common stock through open market and privately negotiated transactions at prices deemed appropriate by management. The timing and amount of repurchase transactions under this program will depend on market conditions and corporate and regulatory considerations. The purchases will be funded from available working capital. As of December 18, 2008, Lattice had approximately 115,469,326 shares of common stock outstanding.

"Lattice's Board has been seeking opportunities to effectively utilize our growing cash balances to increase shareholder value," stated Bruno Guilmart, Lattice's Chief Executive Officer. "Our recently announced agreement to return to Lattice certain foundry advance payments has enabled Lattice to initiate this stock repurchase program while at the same time maintaining liquidity to address our operational needs and fund future growth."

Forward-Looking Statements Notice

The foregoing paragraphs contain forward-looking statements about Lattice's common stock repurchase program, including the maximum amounts that may be purchased under the program, the increase in shareholder value resulting from effective cash utilization, the return to Lattice of certain foundry advance payments and the maintenance of liquidity to address operational needs and fund future growth. The statements are based on management's current expectations, estimates and projections, are not guarantees of future performance, and are subject to certain risks, uncertainties and other factors, some of which are beyond the company's control and are difficult to predict, including, but not limited to, changes in the market price of the company's common stock and changes in the company's financial results, financial condition and cash requirements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Lattice undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

About Lattice Semiconductor

Lattice is the source for innovative FPGA, CPLD and Mixed Signal programmable logic solutions. For more information, visit [ www.latticesemi.com ].