Lattice Semiconductor (LSCC) FY2019 results: revenue $404 million, up 1.3% on the year
Lattice Semiconductor Corp. (LSCC) reported revenue of $404 million for fiscal 2019, the year ended 28 December 2019, up 1.3% on the year before. Net income was $43 million, and diluted earnings per share $0.32. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2020.
Revenue
$404 million
+1.3% on the year
FY2012FY2019
Operating margin
14.6%
-0.8% a year earlier
FY2012FY2019
Net income
$43 million
FY2012FY2019
Diluted EPS
$0.32
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
404
399
386
+1.3%
Cost of revenue
166
179
169
-7.6%
Gross profit
238
219
217
+8.7%
Gross margin
59.0%
55.0%
56.1%
Research and development
78.6
82.4
103
-4.6%
Selling, general and administrative
82.5
91.1
90.7
-9.3%
Operating income
59.0
-3.1
-47.6
Operating margin
14.6%
-0.8%
-12.3%
Interest expense
11.7
20.6
18.8
-43.1%
Pre-tax income
45.1
-24.0
-69.7
Income tax
1.6
2.4
0.8
-33.2%
Effective tax rate
3.5%
n/a
n/a
Net income
43.5
-26.3
-70.6
Net margin
10.8%
-6.6%
-18.3%
Diluted EPS
$0.32
-$0.21
-$0.58
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
124
51.5
38.5
+141.2%
Capital expenditure
15.6
8.4
12.9
+85.9%
Free cash flow
109
43.1
25.7
+152.0%
Free cash flow margin
26.9%
10.8%
6.6%
Cash from investing
-15.5
-21.1
-8.3
Cash from financing
-110
-16.8
-32.6
Depreciation and amortisation
33.1
39.3
57.9
-15.8%
Share-based compensation
18.9
13.6
12.5
+38.5%
Buybacks
0.0
0.0
0.0
Diluted shares, weighted
137m
127m
123m
+8.5%
Shares outstanding at period end
134m
130m
124m
+3.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
328
258
245
+26.8%
Debt
147
260
301
-43.6%
Operating lease liabilities
21.4
n/a
n/a
Other liabilities
116
106
89.7
+10.2%
Total liabilities and equity
612
624
636
-1.9%
Fixed assets
39.2
34.9
40.4
+12.5%
Goodwill
268
268
268
0.0%
Intangible assets
7.0
21.3
51.3
-67.3%
Investments
0.0
9.6
5.0
Cash and equivalents
118
119
107
-0.8%
Receivables
64.9
60.9
55.1
+6.6%
Inventory
55.0
67.1
79.9
-18.1%
Other assets
60.3
43.3
29.9
+39.3%
Total assets
612
624
636
-1.9%
10-K for the year ended 28 December 2019, filed 24 February 2020: the filing.