Lattice Semiconductor (LSCC) FY2014 results: revenue $366 million, up 10.1% on the year
Lattice Semiconductor Corp. (LSCC) reported revenue of $366 million for fiscal 2014, the year ended 3 January 2015, up 10.1% on the year before. Net income was $49 million, up 117.6%, and diluted earnings per share $0.40. The figures are the company's own, from the 10-K it filed with the SEC on 4 March 2015.
Revenue
$366 million
+10.1% on the year
FY2009FY2014
Operating margin
11.4%
8.1% a year earlier
FY2009FY2014
Net income
$49 million
+117.6% on the year
FY2009FY2014
Diluted EPS
$0.40
+110.5% on the year
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
366
333
279
+10.1%
Cost of revenue
160
154
128
+3.7%
Gross profit
206
178
151
+15.7%
Gross margin
56.3%
53.6%
54.0%
Research and development
88.1
81.0
77.6
+8.8%
Selling, general and administrative
73.5
67.1
72.3
+9.5%
Operating income
41.6
26.8
-9.4
+55.4%
Operating margin
11.4%
8.1%
-3.4%
Interest expense
0.2
0.2
n/a
+13.2%
Pre-tax income
42.9
26.5
-8.9
+62.1%
Income tax
-5.6
4.2
20.7
Effective tax rate
-13.1%
15.7%
n/a
Net income
48.6
22.3
-29.6
+117.6%
Net margin
13.3%
6.7%
-10.6%
Diluted EPS
$0.40
$0.19
-$0.25
+110.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
40.1
56.5
4.3
-29.0%
Capital expenditure
10.3
12.5
13.6
-17.9%
Free cash flow
29.9
44.0
-9.3
-32.2%
Free cash flow margin
8.2%
13.2%
-3.3%
Cash from investing
-34.1
-56.4
-13.4
Cash from financing
-4.3
-3.8
-14.0
Depreciation and amortisation
22.2
20.8
22.1
+6.9%
Share-based compensation
12.8
9.5
7.5
+34.4%
Buybacks
13.1
6.2
17.5
+112.4%
Diluted shares, weighted
120m
117m
117m
+2.7%
Shares outstanding at period end
117m
116m
116m
+1.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
441
386
358
+14.3%
Redeemable equity
0.0
n/a
n/a
Debt
0.0
n/a
n/a
Other liabilities
69.6
62.2
57.1
+11.8%
Total liabilities and equity
511
448
415
+14.0%
Fixed assets
27.8
41.7
40.4
-33.4%
Goodwill
44.8
44.8
44.8
0.0%
Intangible assets
9.5
12.5
15.4
-23.6%
Investments
139
107
69.6
+30.4%
Cash and equivalents
116
114
119
+1.1%
Receivables
62.4
50.1
46.9
+24.5%
Inventory
64.9
46.2
44.2
+40.5%
Other assets
46.2
31.5
34.7
+46.8%
Total assets
511
448
415
+14.0%
10-K for the year ended 3 January 2015, filed 4 March 2015: the filing.