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NEWS RELEASE CONTACTS MEDIA: INVESTORS: Bob Nelson Rick Muscha Lattice Semiconductor Corporation Lattice Semiconductor Corpora tion 408-826-6339 408-826-6000Bob.Nelson @latticesemi.co m Rick.Muscha @latticesemi.co m LATTICE SEMICONDUCTOR REPORTS FOURTH QUARTER AND FULL YEAR 2020
Bob Nelson Rick Muscha
Lattice Semiconductor Corporation Lattice Semiconductor Corpora tion
408-826-6339 408-826-6000Bob.Nelson
@latticesemi.co m Rick.Muscha @latticesemi.co m
LATTICE SEMICONDUCTOR REPORTS
FOURTH QUARTER AND FULL YEAR 2020 RESULTS
• Revenue Growth of 6.9% in 4Q 2020 Compared to 4Q 2019
• Gross Margin Expands to 60.5% / 61.6% in 4Q 2020 on a GAAP / N on-GAAP Basis, Compared to 59.2% / 59.6%,
respectivel y, in 4Q 2019
• Net Income Increases to $0.11 / $0.19 Per Diluted Share on a G AAP / Non-GAAP Basis for 4Q 2020, Compared to $0.10 /
$0.17, respectivel y, for 4Q 2019
* GAAP represents U.S. Generall y Accepted Accounting Principles . Non-GAAP represents GAAP excludi ng the impact of certain activ ities
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 “N on-GAAP Financial Measures.” For a reconcili ation of
GAAP to non-GAAP results, see accompanying tables "Reconc iliation of U.S. GAAP to Non-GAAP Financial Measures."
HILLSBORO, OR - Febr uary 16, 2021 - Lattice Semiconductor Corporation (NASDAQ: LSCC), the low power programmable
leader, announced financial results today for the fiscal fourth quarter and full year ended January 2, 2021.
Jim Anderson, president and CE O, said, "Profitability increased significantly for the full year 2020, as we continued to execu te on
our strategy. We saw double-digit year-over-year revenue growt h in our two largest markets, communications and computing, and
industrial and automotive, which are long-term growth drivers. We executed well on our hardware and software roadmaps, with
the successful launch of two new Nexus™ products and three new software products. We are pleas ed with the momentum we are
building with our customers and l ook to accelerate the Company' s growth moving forward."
Sherri Luther, CFO, said, "We expanded diluted earnings per sha re by 6.3% on a GAAP basis for the full year 2020 compared to
the full year 2019, and 16.9% on a non-GAAP basis, as we contin ued to drive profit expansion. With approximately $92 million i n
cash generated from operations for the full year 2020, we furth er strengthened our balance sheet ending the year with a positi ve net
Selected Fourth Quarter and Full Year 2020 Financial Results an d Comparisons (in thousands, except per share data)
GAAP Financial Results (unaudited)
Q4 2020 Q3 2020 Q4 2019 Q/Q Y/Y FY 2020 FY 2019 FY/FY
Revenue $ 107,173 $ 103,042 $100,237 4.0% 6.9% $ 408,120 $ 404, 093 1.0%
Gross Margin % 60.5 % 60.5% 59.2% — 130 bps 60.1 % 59.0% 110 bps
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