Hewlett Packard Enterprise 2023 Cyber Security Supplier of the YearĢ023 AutoTech Breakthrough Award with New Lattice Drive Solution Stackīusiness Outlook - Fourth Quarter of 2023: Lattice Receives Multiple Industry Awards: Mazda Selects Lattice FPGAs: Mazda Motor Corporation's new crossover SUV models CX-60 and CX-90 leverage an interface bridging solution based on multiple power efficient Lattice FPGAs to enable safety-critical Advanced Driver Assistance System (ADAS) features. Profit Growth: Gross margin expanded 120 basis points on a GAAP basis and 110 basis points on a non-GAAP basis compared to Q3 2022, with net income per diluted share increasing 15% on a GAAP basis and 10% on a non-GAAP basis compared to Q3 2022.Ĭontinued Product Portfolio Expansion: Launched the Lattice CrossLinkU™-NX FPGA family, the industry’s first FPGA with integrated USB device functionality in its class to meet growing customer needs to simplify USB-based design for applications across multiple markets. Record Revenue: Revenue increased 11% in Q3 2023 compared to Q3 2022 and 1% compared to Q2 2023. We drove record cash generation, increased our free cash flow to 40%, and continued our share repurchase program for the twelfth consecutive quarter." Sherri Luther, CFO, said, "We achieved Q3 2023 operating profit of 29.6% on a GAAP basis and 40.3% on a non-GAAP basis, with gross margin expansion of 120 basis points on a GAAP basis and 110 basis points on a non-GAAP basis compared to Q3 2022. We look forward to our Developers Conference in December, when we expect to launch two new members of the Lattice Avant™ mid-range FPGA product family." Today Lattice has the strongest product portfolio in our 40-year history and we continue to rapidly expand our product lineup. Jim Anderson, president and CEO, said, "We delivered another quarter of solid growth, with Q3 2023 revenue and net income increasing 11% on a year-over-year basis. HILLSBORO, Ore., October 30, 2023-( BUSINESS WIRE)-Lattice Semiconductor Corporation (Nasdaq: LSCC), the low power programmable leader, announced financial results today for the fiscal third quarter ended September 30, 2023. 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. 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. Generally Accepted Accounting Principles. Net Income improves to $0.38 / $0.53 per diluted share for Q3 2023 on a GAAP / Non-GAAP basis, compared to $0.33 / $0.48, respectively, for Q3 2022 Gross Margin expands to 70.0% / 70.6% for Q3 2023 on a GAAP / Non-GAAP basis, compared to 68.8% / 69.5%, respectively, for Q3 2022 Quarterly revenue growth of 11% compared to Q3 2022 and 1% compared to Q2 2023
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