Science & Technology
Science and Technology
Science and Technology
Tue, June 8, 2010 Lattice Semiconductor Reiterates Guidance for Second Quarter 2010
HILLSBORO, OR--(Marketwire - June 8, 2010) - Lattice Semiconductor (
- Second quarter revenue is expected to increase 6% to 10% on a sequential basis led by continued growth across all geographies, major product families and end markets, and continued strength in the Company's backlog throughout the quarter.
- Gross margin percentage is expected to be approximately 57% to 59% of revenue.
- Total operating expenses are expected to be approximately $31.0 million.
- Lattice also reiterates its expectation for continued profitability in the second quarter of 2010, including a gain, net of tax, of approximately $0.5 million from the sale of excess real estate in China.
No conference call will be held in conjunction with this guidance update. Additional information related to the second quarter will be available when the Company reports its second quarter 2010 results.
Forward-Looking Statements:
The foregoing business update contains forward-looking statements including statements relating to our business outlook: including our revenue, gross margin and operating expense expectations, and to our expectation of continued profitability in the second quarter of 2010, including a gain, net of tax, of approximately $0.5 million from the sale of excess real estate in China. Lattice believes the factors identified below in connection with each such statement could cause actual results to differ materially from the forward-looking statements.
Estimates of future revenue are inherently uncertain due to, among other things, the high percentage of quarterly "turns" business, as well as such factors as the demand for our products, and our ability to supply products to customers in a timely manner. Our backlog is subject to cancelation and includes expected shipments to distributors, which may not be shipped to their end customers in the same quarter we ship them and which accordingly may not be recorded as revenue in that same quarter. Our estimate of operating expenses could be affected by unanticipated expenses during the final month of the quarter. Our expectations with respect to restructuring of our distribution model can be adversely affected if our new distribution partners are not as successful as our former distribution partners or if the transition is not accepted by our end-user customers. Our fair value estimate of Auction Rate Securities may experience an other-than-temporary decline in fair value if we continue to experience unsuccessful auctions, or if the credit rating of the auction rate securities or auction rate issuers deteriorate.
In addition to the foregoing, other factors that may cause actual results to differ materially from the forward-looking statements herein include global economic uncertainty, overall semiconductor market conditions, our dependence on the communications end market, market acceptance and demand for our new and existing products, our dependencies on our silicon wafer suppliers, the impact of competitive products and pricing, technological and product development risks, the compromised liquidity of our auction rate securities and the other risks that are described herein and that are otherwise described from time to time in our filings with the Securities and Exchange Commission. 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 is the source for innovative [ FPGA ], [ PLD ], programmable [ Power Management ] and [ Clock Management ] solutions. For more information, visit [ www.latticesemi.com ].
Lattice Semiconductor Corporation, Lattice (& design) and L (& design) are either registered trademarks or trademarks of Lattice Semiconductor Corporation or its subsidiaries in the United States and/or other countries.
