Lattice Semiconductor Corporation · NASDAQ:LSCC
Lattice Semiconductor — FY2015 Earnings Presentation
14 slides from Lattice Semiconductor's earnings presentation, Feb 17, 2016
Slide 1: 4Q / Full Year 2015 Earnings Call
Exhibit 99.2 LATTICE SEMICONDUCTOR 4Q / Full Year 2015 Earnings Call FEBRUARY 2016
Slide 2: Safe Harbor
Safe Harbor This presentation contains forward-looking statements that involve estimates, assumptions, risks and uncertainties, including statements relating to our belief that in 2016 we will grow our markets, achieve revenue synergies and execute to 20% operating income, statements relating to Q1
Slide 3: Q4 / FY 2015 Summary
Q4 / FY 2015 Summary GAAP NON-GAAP Q3 2015 Q4 2015 FY 2014 FY 2015 Q3 2015 Q4 2015 FY 2014 FY 2015 Revenue 109.7 101.2 366.1 406.0 110.1 101.3 366.1 411.2 Gross Margin % 54.5% 53.5% 56.3% 54.2% 55.7% 54.6% 56.5% 56.2% OPEX 77.8 90.6 164.6 327.1 57.6 51.9 149.6 218.3 OP INC (loss) (18.0) (36.4) 41.6
Slide 4: LSCC + SIMG: Video is the killer application
LSCC + SIMG VIDEO is THE killer application [4] Lattice Semiconductor
Slide 5: Where Lattice Wins and Grows
Where Lattice Wins and Grows Breadth and capabilities of our technology gives us access to a large range of end markets Communications Industrial Consumer § Mid-Range FPGA § Mid-Range FPGA § Ultra Low Density PLD Offering MHL / HDMI 60 GHz § Low Density PLD § Low Density PLD § Low Density PLD Produc
Slide 6: Where Lattice Wins & Grows: Consumer
Where Lattice Wins & Grows: Consumer FPGAs Multiple interfaces and controls and potential wireless camera solution (Drones) mmWave Allows for interference & wire free HDMI & MHL connected appliances and mobile devices Support 8K video for amazing images FPGAs Provide always-on, low power and a very
Slide 7: Where Lattice Wins & Grows: Communications & Computing
Where Lattice Wins & Grows: Communications & Computing 60 GHz BACKHAUL Beam-steering technology will make point-to-point links lighter, cheaper, lower power and easier to install, enabling backhaul at wireless fiber data rates Lattice’s FPGAs Flexible FPGAs allow custom controls to enable our custom
Slide 8: Where Lattice Wins & Grows: Industrial & Automotive
Where Lattice Wins & Grows: Industrial & Automotive HD VIDEO HUMAN MACHINE INTERFACE High definition eyes for surveillance HD and DISPLAY and to help you control the process Easily connect, process and display INDUSTRIAL HANDHELD Our mmWave modules eliminate the clutter of wires Lattice’s competitiv
Slide 9: Image + FPGA Combinations
Image + FPGA Combinations Virtual Reality Headset mmWave Backhaul Digital Signage / Simple Monitor 4G Based Live TV / Android TV Box HetNet Tablet / Smartphone Video Connectivity [9] Lattice Semiconductor
Slide 10: Execution is Key
Execution is Key Lattice 2016 Strategic Plan GROW REVENUE 20% Achieve Revenue In our Markets Execute to 20% OPINC Synergies [10] Lattice Semiconductor
Slide 11: Q4 2015 Financial Highlights
Q4 2015 Financial Highlights Q4 2015 Revenue was $101.2 million on a GAAP basis and $101.3 million on a Non-GAAP Revenue ($M) non-GAAP basis. $120 § Did not receive a contractually required payment for the sale of certain IP and were $90 109.4 110.1 101.3 unable to recognize the revenue as expected.
Slide 12: FY 2015 Financial Highlights
FY 2015 Financial Highlights Non-GAAP Revenue ($M) FY 2015 Revenue was $406.0 million on a GAAP basis and $411.2 $400 million on a non-GAAP basis. 411.2 $300 366.1 $200 FY 2015 Gross margin was 54.2% on a GAAP basis and 56.2% on a non- $100 GAAP basis. $0 FY14 FY15 § Includes charges associated with
Slide 13: Q1 / FY 2016 Financial Guidance
Q1/ FY 2016 Financial Guidance Q1 2016 FY 2016 Approx. Approx. Revenue (Non-GAAP) $95M to $101M $460M to $470M Approx. Approx. Gross Margin % (Non-GAAP) 56.0% +/– 2% 56.0% +/– 2% Approx. Approx. OPEX* (Non-GAAP) $49.6 Million +/– 3% $175 Million +/– 3% Approx. Approx. Restructuring Charges $2.1 Mill
Slide 14: Summary
Summary Q4 came in as expected, excluding the negative impact due primarily to a delay in payment related to an IP sale. Expect Q1 will represent a low point for 2016. Positive impact of major transformational moves in 2015 has been offset by continued macro weakness. Lattice remains well positioned