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Lattice Semiconductor: third quarter results 27-10-05

Lattice Semiconductor announced financial results for the third quarter ended September 2005. Revenue was $53.4 million, an increase of two percent from last quarter's revenue of $52.4 million and down seven percent from the $57.3 million reported in the same quarter a year ago. Quarterly revenue from PLD products was $43.2 million, or 81 percent of total revenue, and grew over one percent sequentially. Quarterly revenue from FPGA products was $10.2 million, or 19 percent of total revenue, and grew four percent sequentially. Net loss for the third quarter was $7.1 million. This loss includes a $4.0 million charge for amortization of intangible assets. The company further announced a corporate restructuring to consolidate operations, streamline engineering functions and lower operating expenses. As a result of these actions, the Company expects that total headcount will be reduced by approximately 12-14%. A restructuring charge, currently estimated to be in the $8-$10 million range, is expected to be recorded in the fourth quarter of 2005.

 

 


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