Lattice Semiconductor Corporation
Lattice Semiconductor Reports Q3 2024 Financial Results with GAAP Net Income of $0.05 per Share
Summary
Lattice Semiconductor Corporation announced its Q3 2024 financial results, reporting GAAP net income of $0.05 per diluted share and non-GAAP net income of $0.24 per diluted share. The company also announced a one-time charge of $6.5 million related to workforce reduction efforts. Revenue for Q3 2024 was $127.1 million, with a GAAP gross margin of 69.0%. The company expects operating expense reductions to help drive annual earnings expansion in the low double-digit range in 2025. Additionally, Lattice Semiconductor appointed Dr. Ford Tamer as Chief Executive Officer and to its Board of Directors, effective immediately.
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About Lattice Semiconductor Corporation
Lattice Semiconductor Corporation is a global leader in the design and development of low power, programmable logic devices. Specializing in Field-Programmable Gate Arrays (FPGAs), Application-Specific Integrated Circuits (ASICs), and their related software solutions, Lattice serves primarily the computing, communications, industrial, and automotive markets. These programmable logic devices are integral in enhancing the performance of electronic devices while maintaining energy efficiency, a key consideration for modern electronics engineering. Lattice’s products empower developers to create cutting-edge technologies by offering flexibility and customization in chip design. With a strategic focus on fostering innovation and collaboration across industries, Lattice Semiconductor plays a critical role in propelling technological advancement, supporting edge computing, 5G infrastructure, and industrial automation. Established in 1983 and headquartered in Hillsboro, Oregon, Lattice holds a significant position in the semiconductor industry, leveraging decades of expertise to meet the continually evolving demands of electronics design and application.
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