Lattice lowers March 2001 revenue expectations

March 2, 2001–Hillsboro, Oregon–Lattice Semiconductor Corp. today announced that it expects revenue for the March 2001 quarter to be approximately 20% lower than revenue reported in the prior quarter. The company believes that this shortfall is the result of a general decline in PLD consumption within the communications and computing end markets.

Lattice expects gross margin as a percentage of revenue to be consistent with the prior quarter and operating expenses, although increasing as a percent of revenue, to decline in absolute terms from the prior quarter. Consequently, earnings before goodwill (EBG) for the March 2001 quarter are expected to be approximately 25% lower than EBG reported in the prior quarter.

“For the past several months overall semiconductor market conditions have been quite turbulent,” says Cyrus Y. Tsui, president and chief executive officer. “Within the PLD sector, what began as an inventory correction now appears to be exacerbated by a general slowdown in demand for our customers’ end products. Should macroeconomic conditions improve, we are hopeful of a return to sequential revenue growth in the second half of 2001.”


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