Lattice Semiconductor Reports Second Quarter 2023 Results

Lattice Semiconductor Corporation

Reconciliation of U.S. GAAP to Non-GAAP Financial Measures

(in thousands, except per share data)

(unaudited)

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

 

July 1,

 

 

 

April 1,

 

 

 

July 2,

 

 

 

 

2023

 

 

 

2023

 

 

 

2022

 

Income Tax Expense Reconciliation

 

 

 

 

 

 

 

 

 

 

 

 

GAAP Income tax expense

 

$

2,439

 

 

$

2,561

 

 

$

1,120

 

Estimated tax effect of non-GAAP adjustments

 

 

1,372

 

 

 

1,670

 

 

 

175

 

Change in tax law (3)

 

 

(339

)

 

 

(1,012

)

 

 

 

Non-GAAP Income tax expense

 

$

3,472

 

 

$

3,219

 

 

$

1,295

 

Net Income Reconciliation

 

 

 

 

 

 

 

 

 

 

 

 

GAAP Net income

 

$

50,644

 

 

$

55,923

 

 

$

44,532

 

Stock-based compensation - gross margin (1)

 

 

1,425

 

 

 

1,023

 

 

 

1,011

 

Stock-based compensation - operations (1)

 

 

20,277

 

 

 

14,296

 

 

 

12,694

 

Litigation expense (2)

 

 

439

 

 

 

288

 

 

 

 

Amortization of acquired intangible assets

 

 

869

 

 

 

870

 

 

 

870

 

Restructuring and other

 

 

(112

)

 

 

30

 

 

 

192

 

Estimated tax effect of non-GAAP adjustments

 

 

(1,372

)

 

 

(1,670

)

 

 

(175

)

Change in tax law (3)

 

 

339

 

 

 

1,012

 

 

 

 

Non-GAAP Net income

 

$

72,509

 

 

$

71,772

 

 

$

59,124

 

Net Income Per Share Reconciliation

 

 

 

 

 

 

 

 

 

 

 

 

GAAP Net income per share - basic

 

$

0.37

 

 

$

0.41

 

 

$

0.32

 

Cumulative effect of Non-GAAP adjustments

 

 

0.16

 

 

 

0.11

 

 

 

0.11

 

Non-GAAP Net income per share - basic

 

$

0.53

 

 

$

0.52

 

 

$

0.43

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP Net income per share - diluted

 

$

0.36

 

 

$

0.40

 

 

$

0.32

 

Cumulative effect of Non-GAAP adjustments

 

 

0.16

 

 

 

0.11

 

 

 

0.10

 

Non-GAAP Net income per share - diluted

 

$

0.52

 

 

$

0.51

 

 

$

0.42

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares used in per share calculations:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

137,735

 

 

 

137,418

 

 

 

137,424

 

Diluted

 

 

139,768

 

 

 

140,101

 

 

 

140,170

 

(1)

 

The non-GAAP adjustments for Stock-based compensation include related payroll tax expenses.

(2)

 

Legal expenses associated with the defense of claims that are outside the ordinary course of business that were brought against the Company by Steven A.W. De Jaray, Perienne De Jaray and Darrell R. Oswalde.

(3)

 

Adjustments for Change in tax law reflect an increase in our provision for U.S. tax on foreign operations resulting from The 2017 Tax Cuts and Jobs Act and is related to the capitalization and subsequent amortization of R&D costs for tax purposes.


« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9  Next Page »



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us
ShareCG™ is a trademark of Internet Business Systems, Inc.

Report a Bug Report Abuse Make a Suggestion About Privacy Policy Contact Us User Agreement Advertise