To: Trey McAtee who wrote (34674 ) 6/9/1998 7:49:00 PM From: Lucretius Read Replies (1) | Respond to of 53903
some of you bulls might want to buy shares of this dog tomorrow and add it to your MU holdings as crap equates w/ a higher stock price in your minds. It was up a little over 1% today in front of this little gem of good news. Don't miss out on this buying opp! Tuesday June 9, 4:14 pm Eastern Time Company Press Release SOURCE: Lattice Semiconductor Corporation Lattice Semiconductor Reduces Outlook for First Fiscal Quarter HILLSBORO, Ore., June 9 /PRNewswire/ -- Lattice Semiconductor Corporation (Nasdaq: LSCC - news) today announced that it expects revenue for the June quarter to be below the consensus expectation of a four percent sequential decline. Based on current information, the Company expects fiscal first quarter revenue to be approximately 20 percent lower than revenue reported in the prior quarter. Net income and earnings per share are expected to be approximately 30 percent lower than the prior quarter. ''For the past several quarters, overall semiconductor and programmable logic market conditions have been turbulent,'' stated Cyrus Y. Tsui, president and chief executive officer. ''Entering the first quarter we anticipated a moderate sequential revenue decline as a result of weak end customer demand in the Japanese and Asian markets. This outlook was predicated on strong ''turns'' business (orders booked and shipped in the same quarter) from the North American and European markets. Based on quarter-to-date results, Management now believes that there will not be sufficient turns business in the North American and European markets during the remainder of the quarter to prevent a greater sequential revenue decline.'' ''Despite this setback and a clouded short-term outlook, we remain optimistic regarding the longer-term ascendance of the programmable logic market and our position within it,'' Tsui concluded. Statements in this news release looking forward in time are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements involve risks and uncertainties, including the effect of changing economic conditions, the effect of overall semiconductor market conditions, product demand and market acceptance risks, risks associated with dependencies on silicon wafer suppliers, the impact of competitive products and pricing, technological and product development risks and other risk factors detailed in the Company's Securities and Exchange Commission filings. Actual results may differ materially from forward-looking statements. Oregon-based Lattice Semiconductor Corporation designs, develops and markets the broadest range of high-performance ISP(TM) programmable logic devices (PLDs). ISP devices, pioneered and invented by the Company in 1992, have revolutionized how programmable logic is utilized in electronic design. Lattice's ISP PLDs shorten design cycles and reduce development costs by allowing the customer to quickly and efficiently incorporate different logic functions on a single device. Lattice products are sold worldwide through an extensive network of independent sales representatives and distributors, primarily to OEM customers in the fields of communications, computing, computer peripherals, instrumentation, industrial control and military systems.