UPDATE: Lattice Semiconductor Cuts 4Q11 Revenue Guidance; Expected Decline by 14%-17% vs Decline by 4%-9% Prior Reading

Lattice Semiconductor Corporation LSCC today updated its revenue guidance for the fourth quarter ending December 31, 2011. Due to further softening of demand primarily in the communications business in December, fourth quarter revenue is now expected to decline by 14% to 17% on a sequential basis. This compares to prior guidance provided on October 20, 2011 that revenue was expected to decline by 4% to 9% on a sequential basis. Expectations for both gross margin percentage and total operating expenses are unchanged from prior guidance, at approximately 59% plus or minus 2% of revenue, and approximately $35.6 million, including approximately $1.0 million in restructuring charges, respectively. No conference call will be held in conjunction with this guidance update. Additional information related to the fourth quarter will be available when the Company reports its fourth quarter 2011 results.