Lattice Semiconductor (LSCC) FY2020 results: revenue $408 million, up 1.0% on the year
Lattice Semiconductor Corp. (LSCC) reported revenue of $408 million for fiscal 2020, the year ended 2 January 2021, up 1.0% on the year before. Net income was $47 million, up 9.0%, and diluted earnings per share $0.34. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$408 million
+1.0% on the year
FY2013FY2020
Operating margin
12.8%
14.6% a year earlier
FY2013FY2020
Net income
$47 million
+9.0% on the year
FY2013FY2020
Diluted EPS
$0.34
+6.3% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
408
404
399
+1.0%
Cost of revenue
163
166
179
-1.7%
Gross profit
245
238
219
+2.9%
Gross margin
60.1%
59.0%
55.0%
Research and development
89.2
78.6
82.4
+13.5%
Selling, general and administrative
95.3
82.5
91.1
+15.5%
Operating income
52.4
59.0
-3.1
-11.3%
Operating margin
12.8%
14.6%
-0.8%
Interest expense
3.7
11.7
20.6
-68.4%
Pre-tax income
48.5
45.1
-24.0
+7.5%
Income tax
1.1
1.6
2.4
-32.3%
Effective tax rate
2.2%
3.5%
n/a
Net income
47.4
43.5
-26.3
+9.0%
Net margin
11.6%
10.8%
-6.6%
Diluted EPS
$0.34
$0.32
-$0.21
+6.3%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
91.7
124
51.5
-26.1%
Capital expenditure
12.1
15.6
8.4
-22.3%
Free cash flow
79.6
109
43.1
-26.7%
Free cash flow margin
19.5%
26.9%
10.8%
Cash from investing
-20.9
-15.5
-21.1
Cash from financing
-8.1
-110
-16.8
Depreciation and amortisation
16.4
33.1
39.3
-50.5%
Share-based compensation
40.4
18.9
13.6
+113.6%
Buybacks
15.0
0.0
0.0
Diluted shares, weighted
141m
137m
127m
+2.9%
Shares outstanding at period end
136m
134m
130m
+1.8%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
384
328
258
+17.3%
Debt
172
147
260
+17.3%
Operating lease liabilities
18.9
21.4
n/a
-11.8%
Other liabilities
105
116
106
-9.9%
Total liabilities and equity
680
612
624
+11.1%
Fixed assets
39.7
39.2
34.9
+1.1%
Goodwill
268
268
268
0.0%
Intangible assets
6.3
7.0
21.3
-9.4%
Investments
n/a
0.0
9.6
Cash and equivalents
182
118
119
+54.4%
Receivables
64.6
64.9
60.9
-0.5%
Inventory
64.6
55.0
67.1
+17.5%
Other assets
55.1
60.3
43.3
-8.7%
Total assets
680
612
624
+11.1%
10-K for the year ended 2 January 2021, filed 26 February 2021: the filing.