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Lattice Semiconductor Reduces OutlookHILLSBORO, Ore. - March 2, 2001 - Lattice Semiconductor Corporation (NASDAQ: LSCC) today announced that it expects revenue for the March 2001 quarter to be approximately 20 percent lower than revenue reported in the prior quarter. Management believes this shortfall is the result of a general decline in PLD consumption within the communications and computing end markets. The Company expects gross margin as a percentage of revenue to be consistent with the prior quarter and operating expenses, although increasing as a percent of revenue, to decline in absolute terms from the prior quarter. Consequently, earnings before goodwill (EBG) for the March 2001 quarter are expected to be approximately 25 percent lower than EBG reported in the prior quarter. "For the past several months overall semiconductor market conditions have been quite turbulent", stated Cyrus Y. Tsui, president and chief executive officer. "Within the PLD sector, what began as an inventory correction now appears to be exacerbated by a general slowdown in demand for our customers' end products. Should macroeconomic conditions improve, we are hopeful of a return to sequential revenue growth in the second half of 2001." "Although our immediate outlook is subdued and our near-term business visibility is poor, we remain optimistic regarding the longer term prospects of the programmable logic market and our own competitive position. Accordingly, during 2001 we will continue to invest aggressively and cost effectively in new product development activities in order to expand our product portfolio and market coverage while maintaining a healthy profit margin", Tsui concluded. Lattice has published a "Business Update Statement" covering the March 2001 quarter and full year 2001 on our website, http://www.latticesemi.com/investors. The foregoing paragraphs contain forward-looking statements within the meaning of the Federal Securities laws including statements about future quarterly financial results, revenues, customers, product offerings and our ability to compete. Investors are cautioned that actual events and results could differ materially from these statements as a result of a number of factors, including overall semiconductor market conditions, market acceptance and demand for our new products, our dependencies on our silicon wafer suppliers, the impact of competitive products and pricing, technological and product development risks. Oregon-based Lattice Semiconductor Corporation designs, develops and markets the broadest range of high-performance ISP� programmable logic devices (PLDs) and offers total solutions for today's advanced logic designs. Lattice products are sold worldwide through an extensive network of independent sales representatives and distributors, primarily to OEM customers in the communication, computing, industrial and military end markets. Company headquarters are located at 5555 N.E. Moore Court, Hillsboro, Oregon 97124 USA; Telephone (503) 268-8000; FAX (503) 268-8037. For more information access our web site at: www.latticesemi.com. # # #
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