Academy Sports and Outdoors Inc
Change company Symbol lookup
Select an option...
ASO Academy Sports and Outdoors Inc
GAB Gabelli Equity Trust
STRC Sarcos Technology and Robotics Corp
RLMD Relmada Therapeutics Inc
LMND Lemonade Inc
NAACW North Atlantic Acquisition Equity Warrant Exp 20 Oct 2025 *W EXP 10/20/2025
CG Carlyle Group Inc
ETR Entergy Corp
SKIN Beauty Health Co
PYR Pyrogenesis Canada Inc
Go

Consumer Discretionary : Specialty Retail | Small Cap Value
Company profile

Academy Sports and Outdoors, Inc. is a full-line sporting goods and outdoor recreational retailer in the United States. The Company offer products for customers of all ages, incomes and aspirations across sporting and outdoor recreation activities, seasons and experience levels. It offers merchandise across four divisions, which include outdoors, sports and recreation, apparel and footwear. Its offers product across various categories, which includes camping, fishing, shooting sports, fitness, team sports, recreation, front end, outdoor and seasonal apparel, youth apparel, licensed apparel, casual and seasonal footwear, work footwear, youth footwear, athletic footwear and team sports footwear. It operates approximately 259 Academy Sports + Outdoors retail locations in 16 states and three distribution centers located in Katy, Texas, Twiggs County, Georgia and Cookeville, Tennessee. It also sells merchandise to customers across United States through its academy.com Website.

Closing Price
$45.32
Day's Change
2.41 (5.62%)
Bid
--
Ask
--
B/A Size
--
Day's High
45.87
Day's Low
43.61
Volume
(Heavy Day)
Volume:
2,510,223

10-day average volume:
1,774,764
2,510,223

Lattice Semiconductor Reports Second Quarter 2022 Results

4:00 pm ET August 1, 2022 (BusinessWire) Print

--• Gross Margin expands to 68.5% / 69.1% for Q2 2022 on a GAAP / Non-GAAP basis, compared to 61.3% / 62.1%, respectively, for Q2 2021

--• Net Income improves to $0.32 / $0.42 per diluted share for Q2 2022 on a GAAP / Non-GAAP basis, compared to $0.15 / $0.25, respectively, for Q2 2021

--* GAAP represents U.S. Generally Accepted Accounting Principles. Non-GAAP represents GAAP excluding the impact of certain activities which the Company's management excludes in analyzing the Company's operating results and in understanding trends in the Company's earnings. Additional information relating to these measures is included below in "Non-GAAP Financial Measures." For a reconciliation of GAAP to non-GAAP results, see accompanying tables "Reconciliation of U.S. GAAP to Non-GAAP Financial Measures."

Lattice Semiconductor Corporation (NASDAQ: LSCC), the low power programmable leader, announced financial results today for the fiscal second quarter ended July 2, 2022.

Jim Anderson, president and CEO, said, "We drove 28% year-over-year revenue growth in Q2 2022 with a year-over-year increase in net income of 104% on a GAAP basis and 68% on a non-GAAP basis. Growth was driven by our strategic segments of communications and computing, and industrial and automotive. We are well positioned in the right strategic markets with a rapidly expanding product portfolio and growing customer momentum."

Sherri Luther, CFO, said, "In Q2 2022, we achieved record operating profit of 29.0% on a GAAP basis and 38.1% on a non-GAAP basis with continued gross margin expansion of 720 basis points on a GAAP basis and 700 basis points on a non-GAAP basis compared to Q2 2021. We continued to drive strong cash flow generation, while executing our seventh consecutive quarter of share buybacks."

Selected Second Quarter 2022 Financial Results and Comparisons (in thousands, except per share data)

                                                                                                                          GAAP Financial Results (unaudited)
                                                  ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                       Q2 2022                          Q1 2022                          Q2 2021                   Q/Q         Y/Y
                                                  ---------------------------  --------------------                      ---------------------------  --------------------                      ---------------------------  --------------------                      ---------                      ---------
Revenue                        $                    161,372     $                    150,515     $                    125,905          7.2%       28.2%
Gross Margin %                      68.5 %                           66.9 %                           61.3 %                        160 bps     720 bps
R&D Expense %                       20.8 %                           21.6 %                           21.8 %                       (80) bps    (100) bps
SG&A Expense %                      18.0 %                           19.1 %                           20.3 %                       (110) bps   (230) bps
Operating Expense              $                     63,699     $                     63,004     $                     53,868          1.1%       18.3%
Operating Income               $                     46,786     $                     37,763     $                     23,316         23.9%      100.7%
Net Income                     $                     44,532     $                     36,078     $                     21,838         23.4%      103.9%
Net Income per Share - Basic   $                       0.32     $                       0.26     $                       0.16         $0.06      $ 0.16
                                                                                                                       Non-GAAP* Financial Results (unaudited)
                                                  ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                       Q2 2022                          Q1 2022                          Q2 2021                  Q/Q         Y/Y
                                                  ---------------------------  --------------------                      ---------------------------  --------------------                      ---------------------------  --------------------                      --------                      ---------
Revenue                        $                    161,372     $                    150,515     $                    125,905         7.2%       28.2%
Gross Margin %                      69.1 %                           67.7 %                           62.1 %                       140 bps     700 bps
R&D Expense %                       17.8 %                           18.2 %                           18.4 %                      (40) bps    (60) bps
SG&A Expense %                      13.1 %                           13.2 %                           14.6 %                      (10) bps    (150) bps
Operating Expense              $                     49,943     $                     47,243     $                     41,528         5.7%       20.3%
Operating Income               $                     61,553     $                     54,645     $                     36,651        12.6%       67.9%
Net Income                     $                     59,124     $                     52,696     $                     35,206        12.2%       67.9%
Net Income per Share - Basic   $                       0.43     $                       0.38     $                       0.26       $ 0.05      $ 0.17

Second Quarter 2022 Highlights

  • Record Revenue: Revenue increased 28% in Q2 2022 compared to Q2 2021 and 7% compared to Q1 2022, with the sixth consecutive quarter of double-digit growth year-over-year.
  • Profit Expansion: Gross margin expanded 720 basis points on a GAAP basis and 700 basis points on a non-GAAP basis compared to Q2 2021, with net income per diluted share increasing 113% on a GAAP basis and 68% on a non-GAAP basis compared to Q2 2021.
  • Continued Portfolio Expansion: Lattice introduced MachXO5-NX, the fifth device family built on the award-winning Lattice Nexus(TM) platform, which enhances system monitoring and control in the industrial, automotive, server and communications markets, with class-leading power efficiency and reliability.
  • Software Portfolio Expansion: Lattice launched its fifth software solution stack, the ORAN(TM) Solution Stack, which enables 5G ORAN deployment by providing solutions for robust security, flexible fronthaul synchronization, and low power hardware acceleration.
  • Lattice Receives Multiple Industry Awards: Lattice was named a 2022 Fortress Cyber Security Awards winner by the Business Intelligence Group, was awarded a Global Infosec Award by Cyber Defense Magazine, and won a Gold Vendor Award from VDC Research. Additionally, Lattice was named a Best-in-Show Award Winner at Embedded World 2022 exhibition and conference for the Lattice CertusPro(TM)-NX FPGA family.

Business Outlook - Third Quarter of 2022:

  • Revenue for the third quarter of 2022 is expected to be between $161 million and $171 million.
  • Gross margin percentage for the third quarter of 2022 is expected to be 69% plus or minus 1% on a non-GAAP basis.

Non-GAAP Financial Measures: In addition to financial measures prepared in accordance with generally accepted accounting principles (GAAP), this earnings release makes reference to non-GAAP financial measures. With respect to the outlook for the third quarter of 2022, certain items that affect GAAP measurement of financial measures are out of the Company's control and/or cannot be reasonably predicted. Consequently, the Company is unable to provide a reasonable estimate of GAAP measurement for guidance or a corresponding reconciliation to GAAP for the quarter. Additional information regarding the reasons the Company uses non-GAAP measures, a reconciliation of these measures to the most directly comparable GAAP measures, and other information relating to these measures are included below, following the GAAP financial information.

Investor Conference Call / Webcast Details:

Lattice Semiconductor will review the Company's financial results for the fiscal second quarter 2022, and business outlook on Monday, August 1 at 5:00 p.m. Eastern Time. The dial-in number for the live audio call is 1-877-407-3982 or 1-201-493-6780 with conference identification number 13730685. A live webcast of the conference call will also be available on the investor relations section of www.latticesemi.com. The Company's financial guidance will be limited to the comments on its public quarterly earnings call and the public business outlook statements contained in this press release.

Forward-Looking Statements Notice:

The foregoing paragraphs contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, 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, but are not limited to, statements relating to our strategic market position; our product portfolio expansion; growing customer momentum; and the statements under the heading "Business Outlook - Third Quarter of 2022." 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.

Estimates of future revenue are inherently uncertain due to such factors such as global economic conditions which may affect customer demand, pricing pressures, competitive actions, and international trade disputes and sanctions. In addition, the COVID-19 pandemic continues to impact the overall economy and, as a result of the foregoing, may negatively impact our operating results for future periods. 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, variations in manufacturing yields, the failure to sustain operational improvements, and the actual amount of compensation charges due to stock price changes. Actual results may differ materially from our expectations and are subject to risks and uncertainties that relate more broadly to our overall business, including those described in Item 1A in Lattice's most recent Annual Report on Form 10-K and as may be supplemented from time-to-time in Lattice's other filings with the Securities and Exchange Commission, all of which are expressly incorporated herein by reference.

Further economic and market disruptions from COVID-19, future impacts of the military conflict between Ukraine and Russia, and demand changes in secular growth markets may increase or change the severity of our other risks reported in Item 1A in Lattice's most recent Annual Report on Form 10-K. Lattice believes these and other risks and uncertainties could cause actual results to differ materially from the forward-looking statements. New risk factors emerge from time to time and it is not possible for Lattice's management to predict all risk factors. 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.

Non-GAAP Financial Measures:

Included within this press release and the accompanying tables and notes are certain non-GAAP financial measures that supplement the Company's consolidated financial information prepared in accordance with U.S. GAAP. The non-GAAP measures presented exclude charges and adjustments primarily related to stock-based compensation and related tax effects, amortization of acquired intangible assets, restructuring plans and other charges, and the estimated tax effect of these items. These charges and adjustments are a result of periodic or non-core operating activities of the Company. The Company describes these non-GAAP financial measures and reconciles them to the most directly comparable GAAP measures in the tables and notes attached to this press release.

The Company's management believes that these non-GAAP financial measures provide an additional and useful way of viewing aspects of our performance that, when viewed in conjunction with our GAAP results, provide a more comprehensive understanding of the various factors and trends affecting our ongoing financial performance and operating results than GAAP measures alone. Management also uses these non-GAAP measures for strategic and business decision-making, internal budgeting, forecasting, and resource allocation processes and believes that investors should have access to similar data.

These non-GAAP measures are included solely for informational and comparative purposes and are not meant as a substitute for GAAP and should be considered together with the consolidated financial information located in the tables attached to this press release.

About Lattice Semiconductor Corporation:

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 let our customers quickly and easily unleash their innovation to create a smart, secure, and connected world.

For more information about Lattice, please visit www.latticesemi.com. You can also follow us via LinkedIn, Twitter, Facebook, YouTube, WeChat, Weibo or Youku.

                                                                                                                                                                                                                         Lattice Semiconductor Corporation
                                                                                                                                                                                                                       Consolidated Statements of Operations
                                                                                                                                                                                                                       (in thousands, except per share data)
                                                                                                                                                                                                                                    (unaudited)
                                                                                                                                                                                                                                                                                                                                            
                                                                                                                             Three Months Ended                                                                                                                                                           Six Months Ended                                                        
                                                                   --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------          --------------------                      ------------------------------------------------------------------------------------------------------------------------      --------------------
                                               July 2,                                      April 2,                                       July 3,                                       July 2,                                       July 3,                  
                                                2022                                          2022                                          2021                                          2022                                          2021                    
                                                                   ----------------------------------------  --------------------                      ----------------------------------------  --------------------                      ----------------------------------------  --------------------                      ----------------------------------------  --------------------                      ----------------------------------------  --------------------
Revenue                                         $                                 161,372     $                                 150,515     $                                 125,905     $                                 311,887     $                                 241,621  
Cost of sales                                                   50,887                     49,748                     48,721                    100,635                     93,851  
                                                                   -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
                                                               110,485                    100,767                     77,184                    211,252                    147,770  
   Gross margin
                                                                   -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
Operating expenses:                                                                  
                                                                33,613                     32,555                     27,454                     66,168                     51,520  
   Research and development
                                                                29,024                     28,771                     25,607                     57,795                     50,699  
   Selling, general, and administrative
                                                                   870                      1,169                        603                      2,039                      1,206  
   Amortization of acquired intangible assets
                                                                   136                         54                        204                        190                        380  
   Restructuring
                                                                    56                        455             --                        511             --  
   Acquisition related charges
                                                                   -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
                                                                63,699                     63,004                     53,868                    126,703                    103,805  
    Total operating expenses
                                                                   -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
Income from operations                                          46,786                     37,763                     23,316                     84,549                     43,965  
Interest expense                                                  (891 )                                        (708 )                                        (702 )                                      (1,599 )                                      (1,420 )
Other (expense) income, net                                       (243 )                                         (22 )                                        (135 )                                        (265 )                                        (297 )
                                                                   -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
Income before income taxes                                      45,652                     37,033                     22,479                     82,685                     42,248  
Income tax expense (benefit)                                     1,120                        955                        641                      2,075                      1,597  
                                                                   -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
Net income                                      $                                  44,532     $                                  36,078     $                                  21,838     $                                  80,610     $                                  40,651  
                                                                   ==================== ==================== ====================                      ==================== ==================== ====================                      ==================== ==================== ====================                      ==================== ==================== ====================                      ==================== ==================== ====================
                                                                  
Net income per share:                                                                
Basic                                           $                                    0.32     $                                    0.26     $                                    0.16     $                                    0.59     $                                    0.30  
                                                                   ==================== ==================== ====================                      ==================== ==================== ====================                      ==================== ==================== ====================                      ==================== ==================== ====================                      ==================== ==================== ====================
Diluted                                         $                                    0.32     $                                    0.26     $                                    0.15     $                                    0.57     $                                    0.29  
                                                                   ==================== ==================== ====================                      ==================== ==================== ====================                      ==================== ==================== ====================                      ==================== ==================== ====================                      ==================== ==================== ====================
                                                                  
Shares used in per share calculations:                                               
Basic                                                          137,424                    137,500                    136,388                    137,462                    136,394  
                                                                   ==================== ==================== ====================                      ==================== ==================== ====================                      ==================== ==================== ====================                      ==================== ==================== ====================                      ==================== ==================== ====================
                                                                                                   Lattice Semiconductor Corporation
                                                                                                 Condensed Consolidated Balance Sheets
                                                                                                            (in thousands)
                                                                                                              (unaudited)
                                                                                                
                                                               July 2,                                     January 1,                 
                                                                2022                                          2022                    
                                                                                   ----------------------------------------  --------------------                      ----------------------------------------  --------------------
                            Assets                                           
Current assets:                                                              
                                                                $                                 117,882     $                                 131,570  
   Cash and cash equivalents
                                                                                93,380                     79,859  
   Accounts receivable, net
                                                                                77,478                     67,594  
   Inventories, net
                                                                                25,720                     22,328  
   Other current assets
                                                                                   -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
                                                                               314,460                    301,351  
     Total current assets
                                                          
Property and equipment, net                                                     42,741                     38,094  
Operating lease right-of-use assets                                             20,407                     23,818  
Intangible assets, net                                                          27,218                     29,782  
Goodwill                                                                       315,358                    315,358  
Other long-term assets                                                          16,944                     18,091  
                                                                                   -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
                                             $                                 737,128     $                                 726,494  
                                                                                   ==================== ==================== ====================                      ==================== ==================== ====================
                                                          
             Liabilities and Stockholders' Equity                            
Current liabilities:                                                         
                                                                $                                  39,336     $                                  34,597  
   Accounts payable
                                                                                29,082                     26,444  
   Accrued expenses
                                                                                20,798                     27,967  
   Accrued payroll obligations
                                                                                17,192                     17,173  
   Current portion of long-term debt
                                                                                   -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
                                                                               106,408                    106,181  
     Total current liabilities
                                                          
Long-term debt, net of current portion                                         132,159                    140,760  
Long-term operating lease liabilities, net of current portion                   15,917                     19,248  
Other long-term liabilities                                                     46,723                     48,672  
                                                                                   -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
                                                                               301,207                    314,861  
    Total liabilities
                                                          
Stockholders' equity                                                           435,921                    411,633  
                                                                                   -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
                                                                                                                     Lattice Semiconductor Corporation
                                                                                                              Condensed Consolidated Statements of Cash Flows
                                                                                                                              (in thousands)
                                                                                                                                (unaudited)
                                                                                                                                                                                             
                                                                                                                                        Six Months Ended                                                        
                                                                                                                       ------------------------------------------------------------------------------------------------------------------------      --------------------
                                                                                                   July 2,                                       July 3,                  
                                                                                                    2022                                          2021                    
                                                                                                                       ----------------------------------------  --------------------                      ----------------------------------------  --------------------
Cash flows from operating activities:                                                                            
                                                                                                    $                                  80,610     $                                  40,651  
   Net income
                                                                                                                 
   Adjustments to reconcile net income to net cash provided by (used in) operating activities:
                                                                                                                    27,249                     22,374  
    Stock-based compensation expense
                                                                                                                    14,272                     11,759  
    Depreciation and amortization
                                                                                                                     3,445                      3,383  
    Other non-cash adjustments
                                                                                                                   (32,658 )                                      (7,463 )
   Net changes in assets and liabilities
                                                                                                                       -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
                                                                                                                    92,918                     70,704  
    Net cash provided by (used in) operating activities
                                                                                                                       -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
Cash flows from investing activities:                                                                            
                                                                                                                    (8,917 )                                      (4,413 )
   Capital expenditures
                                                                                                                    (5,368 )                                      (6,377 )
   Other investing activities
                                                                                                                       -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
                                                                                                                   (14,285 )                                     (10,790 )
    Net cash provided by (used in) investing activities
                                                                                                                       -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
Cash flows from financing activities:                                                                            
                                                                                                                    (8,750 )                                      (4,375 )
   Repayment of long-term debt
                                                                                                                   (50,161 )                                     (40,113 )
   Repurchase of common stock
                                                                                                                   (32,182 )                                      (9,975 )
   Net cash flows related to stock compensation exercises
                                                                                                                       -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
                                                                                                                   (91,093 )                                     (54,463 )
    Net cash provided by (used in) financing activities
                                                                                                                       -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
Effect of exchange rate change on cash                                                                              (1,228 )                                         (49 )
                                                                                                                       -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
Net increase (decrease) in cash and cash equivalents                                                               (13,688 )                                       5,402  
Beginning cash and cash equivalents                                                                                131,570                    182,332  
                                                                                                                       -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
Ending cash and cash equivalents                                                                    $                                 117,882     $                                 187,734  
                                                                                                                       ==================== ==================== ====================                      ==================== ==================== ====================
                                                                                              
Supplemental disclosure of cash flow information and non-cash investing and financing activities:                
                                                                                                    $                                   1,337     $                                   1,180  
   Interest paid
                                                                                                                                 Lattice Semiconductor Corporation
                                                                                                                           Supplemental Historical Financial Information
                                                                                                                                            (unaudited)
                                                                                                                                                                                                                     
                                                                                                                     Three Months Ended                                                                                                 
                                                           --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------          --------------------
                                       July 2,                                      April 2,                                       July 3,                  
                                        2022                                          2022                                          2021                    
                                                           ----------------------------------------  --------------------                      ----------------------------------------  --------------------                      ----------------------------------------  --------------------
Balance Sheet Information                                    
                                                            53                         50                         52  
   A/R Days Revenue Outstanding (DSO)
                                                           139                        132                        123  
   Inventory Days (DIO)
                                          
Revenue% (by Geography)                                      
                                                            73 %                                          72 %                                          77 %
   Asia
                                                            14 %                                          15 %                                          14 %
   Americas
                                                            13 %                                          13 %                                           9 %
   Europe (incl. Africa)
                                          
Revenue% (by End Market)                                     
                                                            44 %                                          42 %                                          42 %
   Communications and Computing
                                                            46 %                                          46 %                                          45 %
   Industrial and Automotive
                                                             8 %                                          10 %                                          10 %
   Consumer
                                                             2 %                                           2 %                                           3 %
   Licensing and Services
                                          
Revenue% (by Channel)                                        
                                                            89 %                                          90 %                                          88 %
   Distribution
                                                                                                                                      Lattice Semiconductor Corporation
                                                                                                                         Reconciliation of U.S. GAAP to Non-GAAP Financial Measures
                                                                                                                                    (in thousands, except per share data)
                                                                                                                                                 (unaudited)
                                                                                                                                                                                                                               
                                                                                                                               Three Months Ended                                                                                                 
                                                                     --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------          --------------------
                                                 July 2,                                      April 2,                                       July 3,                  
                                                  2022                                          2022                                          2021                    
                                                                     ----------------------------------------  --------------------                      ----------------------------------------  --------------------                      ----------------------------------------  --------------------
Gross Margin Reconciliation                                            
                                                  $                                 110,485     $                                 100,767     $                                  77,184  
   GAAP Gross margin
                                                                   1,011                      1,121                        995  
    Stock-based compensation - gross margin (1)
                                                                     -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
Gross Margin % Reconciliation                                                     
                                                                               68.5 %                                        66.9 %                                        61.3 %
   GAAP Gross margin %
                                                                                0.6 %                                         0.8 %                                         0.8 %
    Cumulative effect of non-GAAP Gross Margin adjustments
                                                                                -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
Research and Development Expense % (R&D Expense %) Reconciliation                        
                                                                                      20.8 %                                        21.6 %                                        21.8 %
   GAAP R&D Expense %
                                                                                      (3.0 )%                                       (3.4 )%                                       (3.4 )%
    Stock-based compensation - R&D (1)
                                                                                       -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
Selling, General, and Administrative Expense % (SG&A Expense %) Reconciliation                        
                                                                                                   18.0 %                                        19.1 %                                        20.3 %
   GAAP SG&A Expense %
                                                                                                   (4.9 )%                                       (5.9 )%                                       (5.7 )%
    Stock-based compensation - SG&A (1)
                                                                                                    -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
Operating Expenses Reconciliation                                     
                                                 $                                  63,699     $                                  63,004     $                                  53,868  
   GAAP Operating expenses
                                                                (12,694 )                                     (14,083 )                                     (11,533 )
    Stock-based compensation - operations (1)
                                                                   (870 )                                      (1,169 )                                        (603 )
    Amortization of acquired intangible assets
                                                                   (192 )                                        (509 )                                        (204 )
    Restructuring and other charges
                                                                    -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
Income from Operations Reconciliation                                  
                                                  $                                  46,786     $                                  37,763     $                                  23,316  
   GAAP Income from operations
                                                                   1,011                      1,121                        995  
    Stock-based compensation - gross margin (1)
                                                                  12,694                     14,083                     11,533  
    Stock-based compensation - operations (1)
                                                                     870                      1,169                        603  
    Amortization of acquired intangible assets
                                                                     192                        509                        204  
    Restructuring and other charges
                                                                     -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
Income from Operations % Reconciliation                                                         
                                                                                             29.0 %                                        25.1 %                                        18.5 %
   GAAP Income from operations %
                                                                                              9.1 %                                        11.2 %                                        10.6 %
    Cumulative effect of non-GAAP Gross Margin and Operating adjustments
                                                                                              -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
(1)   The non-GAAP adjustments for Stock-based compensation include related tax expenses.
                                                                                                                                        Lattice Semiconductor Corporation
                                                                                                                           Reconciliation of U.S. GAAP to Non-GAAP Financial Measures
                                                                                                                                      (in thousands, except per share data)
                                                                                                                                                   (unaudited)
                                                                                                                                                                                                                                    
                                                                                                                                    Three Months Ended                                                                                                 
                                                                          --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------          --------------------
                                                      July 2,                                      April 2,                                       July 3,                  
                                                       2022                                          2022                                          2021                    
                                                                          ----------------------------------------  --------------------                      ----------------------------------------  --------------------                      ----------------------------------------  --------------------
Income Tax Expense (Benefit) Reconciliation                                 
                                                       $                                   1,120     $                                     955     $                                     641  
   GAAP Income tax expense (benefit)
                                                                          175                        264                        (33 )
    Estimated tax effect of non-GAAP adjustments (2)
                                                                          -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
Net Income Reconciliation                                                   
                                                       $                                  44,532     $                                  36,078     $                                  21,838  
   GAAP Net income
                                                                        1,011                      1,121                        995  
    Stock-based compensation - gross margin (1)
                                                                       12,694                     14,083                     11,533  
    Stock-based compensation - operations (1)
                                                                          870                      1,169                        603  
    Amortization of acquired intangible assets
                                                                          192                        509                        204  
    Restructuring and other charges
                                                                         (175 )                                        (264 )                                          33  
    Estimated tax effect of non-GAAP adjustments (2)
                                                                          -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
Net Income Per Share Reconciliation                                  
                                                $                                    0.32     $                                    0.26     $                                    0.16  
   GAAP Net income per share - basic
                                                                  0.11                       0.12                       0.10  
    Cumulative effect of Non-GAAP adjustments
                                                                   -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
                                                $                                    0.43     $                                    0.38     $                                    0.26  
   Non-GAAP Net income per share - basic
                                                  
                                                $                                    0.32     $                                    0.26     $                                    0.15  
   GAAP Net income per share - diluted
                                                                  0.10                       0.11                       0.10  
    Cumulative effect of Non-GAAP adjustments
                                                                   -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------                      -------------------- -------------------- --------------------
                                                $                                    0.42     $                                    0.37     $                                    0.25  
   Non-GAAP Net income per share - diluted
                                                  
                                                                     
   Shares used in per share calculations:
                                                               137,424                    137,500                    136,388  
    Basic
(1)   The non-GAAP adjustments for Stock-based compensation include related tax expenses.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220801005701/en/

SOURCE: Lattice Semiconductor Corporation

MEDIA: 
Sophia Hong
Lattice Semiconductor Corporation
503-268-8786
Sophia.Hong@latticesemi.com

INVESTORS: 
Rick Muscha
Lattice Semiconductor Corporation
408-826-6000
Rick.Muscha@latticesemi.com
comtex tracking

COMTEX_411365457/1006/2022-08-01T16:00:01

Earnings Calendar and Events Data provided by |Terms of Use| © 2022 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., ,, and

Copyright © 2022. All rights reserved.