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LATTICE SEMICONDUCTOR REPORTS RECORD THIRD-QUARTER REVENUE AND EARNINGS

 HILLSBORO, Ore., Jan. 18 /PRNewswire/ -- Lattice Semiconductor Corp. (NASDAQ: LSCC) today announced financial results for its third fiscal quarter ended Jan. 2, 1993. Revenue for the quarter was a record $27.3 million, an increase of 56 percent over the $17.5 million reported in the same quarter a year ago, and up 13 percent from last quarter's revenue of $24.1 million.
 Net income for the quarter was a record $4.63 million, or 37 cents per share, an increase of 67 percent from the $2.78 million (23 cents per share) reported in the same quarter last year, and an increase of 13 percent over last quarter's earnings of $4.09 million (33 cents per share).
 The company reported revenue of $72.1 million for the first nine months of fiscal 1993, an increase of 37 percent over the $52.6 million posted in the previous year. Net income for the first nine months was a record $12.1 million (99 cents per share), up 55 percent from net income of $7.8 million (66 cents per share) earned in the same period last year.
 "The market for programmable logic devices is being driven right now by the very strong personal computer industry, and we are realizing the benefits of that," stated Lattice President and Chief Executive Officer Cyrus Tsui. "At the same time, demand for our products is strong across all industry segments. In fact, we are particularly encouraged by the number of new customers choosing Lattice products, and that many of these customers represent large, major account corporations.
 "Our new high density pLSI(R) and ispLSI(R) products continue to be well-received and market acceptance has exceeded our projections," Tsui continued. "In the low density area, we are benefiting greatly from the overall industry conversion from bipolar technology to the E2CMOS(R) technology pioneered by Lattice. We continue to improve and extend the application of our GAL(R) devices with innovative new products, such as our recently introduced 16V8-5 device: the first 5 nanosecond CMOS PLD in the industry. Clearly, the investments we have made in research and development continue to pay dividends."
 Tsui concluded, "We are typically cautious in near-term outlook, and we remain so. Nonetheless, we are very pleased with our third-quarter fiscal results, and have reason to believe we will conclude our fiscal year on a very positive note."
 Lattice Semiconductor Corp. is based in Hillsboro. The company designs, develops and markets both high and low density, high-speed E2CMOS programmable logic devices (PLDs). PLDs shorten design cycles and reduce development cost 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 microcomputers, computer peripherals, graphic systems, workstations, telecommunications, military systems and industrial controls. Company headquarters are located at 5510 N.E. Elam Young Parkway; Hillsboro, OR 97124-6421 U.S.A.; Telephone 503-681-0118; Fax 503-681-3077; Telex 277338 LSC UR.
 LATTICE SEMICONDUCTOR CORP.
 STATEMENT OF OPERATIONS
 (Unaudited, in thousands, except per-share data)
 Three Months Nine Months
 Ended: Jan. 2, Sept. 26, Dec. 28, Jan. 2, Dec. 28,
 1993 1992 1991 1993 1991
 Revenue $27,301 $24,145 $17,512 $72,056 $52,642
 Costs and Expenses:
 Cost of products
 sold 11,648 10,117 7,489 30,258 23,378
 Research and
 development 4,291 3,792 3,145 11,536 9,367
 Selling,
 general and
 administrative 5,282 4,847 3,501 14,507 10,254
 Total costs and
 expenses 21,221 18,756 14,135 56,301 42,999
 Income from
 operations 6,080 5,389 3,377 15,755 9,643
 Other income,
 net 632 540 654 1,799 1,723
 Income before
 provision for
 income taxes 6,712 5,929 4,031 17,554 11,366
 Provision for
 income taxes 2,080 1,838 1,251 5,441 3,526
 Net income $ 4,632 $ 4,091 $ 2,780 $12,113 $ 7,840
 Net income per
 share $ 0.37 $ 0.33 $ 0.23 $ 0.99 $ 0.66
 Weighted average
 common and
 common
 equivalent
 shares
 outstanding 12,395 12,222 11,931 12,226 11,838
 LATTICE SEMICONDUCTOR CORP.
 CONSOLIDATED BALANCE SHEETS
 (In thousands)
 Jan. 2, March 28,
 1993 1992
 (unaudited)
 ASSETS
 Current Assets:
 Cash and short-term investments $ 79,295 $63,331
 Accounts receivable 10,283 8,718
 Inventories 7,742 6,050
 Other current assets 3,239 2,003
 Total current assets 100,559 80,102
 Property and equipment, net 16,179 11,494
 Other non-current assets 177 57
 Total $116,915 $91,653
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Current Liabilities:
 Accounts payable and other accrued
 liabilities $ 17,534 $12,324
 Deferred income on sales to distributors 6,101 2,865
 Income taxes payable 2,056 307
 Current maturities of capital lease
 obligations 212 309
 Total current liabilities 25,903 15,805
 Capital lease obligations 26 205
 Total liabilities 25,929 16,010
 Stockholders' equity 90,986 75,643
 Total $116,915 $91,653
 -0- 1/18/93
 /CONTACT: Marge Breya, vice president, of KVO Public Relations, 503-221-2358, for Lattice Semiconductor; or Jan Johannessen, vice president, Finance and Administration, of Lattice Semiconductor, 503-681-0118/
 (LSCC)


CO: Lattice Semiconductor ST: Oregon IN: CPR SU: ERN

SW-LM -- SE008 -- 6018 01/18/93 17:05 EST
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