Lattice Semiconductor Corp. (LSCC: Quote) Friday reported its current expectation of a 14 percent to 17 percent sequential decline in fourth-quarter revenues, compared to its prior guidance of a 4 percent to 9 percent fall, which was announced in October. The company had posted third-quarter revenues of $81.7 million.
Additionally, the forecast for gross margin percentage and total operating expenses are unchanged, Lattice Semiconductor said, adding that the estimate for gross margin percentage was between 57 percent to 61 percent of revenue. Operating expenses are seen to be approximately $35.6 million and include $1.0 million in restructuring charges.
Separately, Lattice Semiconductor announced agreeing to acquire privately-held SiliconBlue Technologies for a cash consideration of $62 million in a transaction expected to close in fourth-quarter 2011. President and chief executive officer Darin Billerbeck said "The acquisition of SiliconBlue is aligned with our Strategic Long Range Plan and will help accelerate our growth strategy in the Mobile Consumer market. Silicon Blue will further strengthen our product roadmap by adding a scalable, low cost, low power nonvolatile memory FPGA, along with key personnel and blue chip customers."
Kapil Shankar, chief executive officer at SiliconBlue is expected to move to Lattice Semiconductor as Corporate Vice President of the Mobility Business Unit.
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by RTT Staff Writer
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