FPGA vendor Lattice ends 2022 with strong growth
Lattice Semiconductor Corp. (Hillsboro, Oregon) completed an excellent 2022 with strong growth and increasing profitability. This was likely down to its focus on industrial, automotive and communications sectors.
The FPGA vendor achieved sales of US$176.0 million in 4Q22, up 24.1 percent on year. The company made a net profit of US$51.9 million, almost doubling the profit from a year before.
For the full year Lattice announced a net profit of US$178.9 million on sales of US$660.3 million. Sales were up 28.1 percent year-on-year and profit was again almost double that of the previous year.
“We grew revenue 28% for the full year 2022, with continued strong growth in our strategic segments of industrial and automotive, and communications and computing,” said Jim Anderson, CEO of Lattice, in a statement. “We delivered 86 percent annual growth in net income on a GAAP basis and 64 percent on a non-GAAP basis.”
Anderson added: “As we begin 2023, while we’re certainly not immune to any macro-economic challenges impacting the industry, the company is well positioned in secular growth markets, with an expanding product portfolio, accelerating customer momentum and strong financial execution.”
Revenue for 1Q23 is expected to be between $175 million and $185 million.
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