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Lattice Semiconductor

Coordinates: 45°31′38″N 122°55′36″W / 45.527216°N 122.926626°W / 45.527216; -122.926626
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Lattice Semiconductor
Company typePublic (Nasdaq: LSCC)
IndustryIntegrated Circuits
Founded1983, public since 1989
HeadquartersHillsboro, Oregon,
United States
45°31′38″N 122°55′36″W / 45.527216°N 122.926626°W / 45.527216; -122.926626
Key people
Darin Billerbeck, CEO
ProductsFPGAs, CPLDs
Revenue$297.8 million (2010)[1]
Increase $57.1 million (2010)[1]
Number of employees
852 (2011)[1]
Websitewww.latticesemi.com

Lattice Semiconductor Corporation (Nasdaq: LSCC) is a United States based manufacturer of high-performance programmable logic devices (FPGAs, CPLDs, & SPLDs).[2] Founded in 1983, the company employs about 700 people and has annual revenues of around $300 million, with Darin Billerbeck as the chief executive officer.[1] The Oregon based company is the number four ranked company in world market share for field-programmable gate array (FPGA) devices,[3] and number two for CPLDs & SPLDs.[4] The company went public in 1989 and is traded on the NASDAQ stock exchange.

History

Lattice was founded on April 3, 1983, by C. Norman Winningstad, Rahul Sud, and Ray Capece.[5] Winningstad, Harry Merlo, Tom Moyer, and John Piacentini were the early investors in the company.[5] Co-founder Sud left as president in December 1986, and Winningstad left in 1991 as chairman of the board.[5] Lattice was incorporated in Oregon in 1983 and reincorporated in Delaware in 1985. Early struggles led to chapter 11 bankruptcy reorganization in July 1987.[5] The company emerged from bankruptcy after 62 days and moved into a smaller headquarters in Hillsboro, Oregon, from what was then an unincorporated area near Beaverton.[6]

The next year the company posted then record revenues while shrinking from 140 employees to 75 employees after the bankruptcy.[7] Cyrus Tsui became the company's chief executive officer in 1988.[8] On November 9, 1989, Lattice became a publicly traded company when its shares were listed on the NASDAQ after in initial public offering.[9] The initial share price was $6, and raised almost $14 million in capital for the company.[9] In July 1990, Lattice raised an additional $22.6 million from a second stock offering, selling nearly 1.5 million new shares at $16.25 per share.[10]

In 1995, the company attempted to assert trademark rights in the term Silicon Forest beyond the use of its trademark for the use in semiconductor devices.[11] They had registered the mark in 1985, but later conceded they could not prevent the usage of the term as a noun.[11] Forbes ranked the company as their 162nd best small company in the United States in 1996.[12]

In 1996, Lattice began expansions at its Hillsboro, Oregon, headquarters to double the size of the facility.[8] The company grew to annual revenues of more than $560 million and profits in excess of $160 million in 2000.[13] Its stock price reached an all-time high that year of $41.34 per share, as adjusted for stock splits.[13] Lattice purchased Agere Corporation's FPGA division in 2002.[14] Steve Skaggs was hired as CEO in 2005, replacing Cyrus Tsui.[14] That year, Lattice had layoffs for the first time in company history.[14] For fiscal year 2006 Lattice posted a profit of $3.1 million on revenues of $245.5 million, this was the first annual profit for the company since 2000.[15]

In 2004 the company settled charges with the United States government that it had illegally exported certain technologies to China, paying a fine of $560,000.[16] In June 2008, Bruno Guilmart was named as chief executive officer of the company, replacing Steve Skaggs.[17] For fiscal year 2008, Lattice had a loss of $32 million on annual revenues of $222.3 million.[18] In 2009, the company began moving all of its warehouse operations for parts from Oregon to Singapore.[19] Through July 2009, the company had lost money for ten straight quarters,[20] and had its first profitable quarter in three years during the fourth quarter of 2009.[21] Bruno Guilmart left the company in August 2010, and Darin Billerbeck was named the new CEO in October of that year, starting in November.[22] The company reported 2011 revenue of $318 million.[23] Lattice started a stock buy-back program in 2010 that continued into 2012 that would total about $35 million if fully implemented.[24]

Operations

Company headquarters in Hillsboro, Oregon

In addition to CPLDs & SPLDs, Lattice also manufactures field-programmable gate arrays (FPGAs), programmable mixed-signal and interconnect products, related software and intellectual property (IP). Lattice's main products are the ECP and XP series of FPGAs (field-programmable gate arrays), the Mach series of CPLDs (complex programmable logic devices), the ispPAC POWR series of programmable power management products (programmable mixed signal) and the ispLEVER software. At the 90nm node, Lattice offers a variety of FPGA devices. Products are used in a variety of end uses, such as flat-panel televisions and laptops.[17]

The company is headquartered in Hillsboro, Oregon, in the high-tech area known as the Silicon Forest. The company employs 700 people worldwide, with approximately 250 of those at company headquarters.[1] Darin Billerbeck is Lattices's chief executive officer.[1] Among its chief competitors are Xilinx, Altera, Actel and QuickLogic.[25]

References

  1. ^ a b c d e f Rogoway, Mike (January 27, 2011). "Lattice concludes comeback year, but says growth will slow". The Oregonian. Retrieved 28 January 2011.
  2. ^ Ken Cheung, EDA Geek. "Lattice Semiconductor Unveils ispLEVER Classic v1.2 Design Tool Suite." August 25, 2008. Retrieved May 10, 2012.
  3. ^ Morris, Kevin (June 22, 2006). "Dangling Propositions". FPGA and Structured ASIC Journal. techfocus media. Retrieved 2007-02-02.
  4. ^ Baldwin, Howard (June 22, 2006). "Dynamic Duo Still Dominate Programmable Logic". Movers and Shakers 2006. EDN. Retrieved 2007-07-31.
  5. ^ a b c d Colby, Richard (April 3, 1991). "Co-founder of Lattice steps down". The Oregonian. p. C8.
  6. ^ "Lattice eyes new location". The Oregonian. October 9, 1987. pp. E14.
  7. ^ Colby, Richard (April 1, 1988). "Lattice profit yields final pay to creditors". The Oregonian. pp. E7.
  8. ^ a b Hill, Jim (October 12, 1996). "All systems go for Lattice on big expansion in Hillsboro". The Oregonian. p. B1.
  9. ^ a b "Lattice stock brings company cash flow". November 10, 1989. pp. E10.
  10. ^ "Lattice finishes stock offering". The Oregonian. July 24, 1990. pp. C13.
  11. ^ a b Francis, Mike (December 3, 1995). "Who owns 'Silicon Forest'?". The Oregonian. p. G1.
  12. ^ "The Bottom Line Briefcase: Forbes ranks six of region's small firms among nation's best". The Oregonian. October 24, 1996. pp. B1.
  13. ^ a b Earnshaw, Aliza (January 24, 2008). "Lattice's 2007 sales and earnings slide". Portland Business Journal. Retrieved 2009-07-24.
  14. ^ a b c Earnshaw, Aliza (August 18, 2006). "Lattice hopes good news isn't fleeting". Portland Business Journal. Retrieved 2009-07-24.
  15. ^ Earnshaw, Aliza (January 25, 2007). "Lattice: First annual profits since 2000". High Tech - Semiconductors. Portland Business Journal. Retrieved 2007-02-02. {{cite web}}: Italic or bold markup not allowed in: |publisher= (help)
  16. ^ "Lattice Semiconductor Settles Charges of Illegal Exports to China". U.S. Department of Commerce. September 13, 2004. Retrieved 2007-02-02.
  17. ^ a b Earnshaw, Aliza (November 14, 2008). "Lattice CEO focuses on the bottom line". Portland Business Journal. Retrieved 2009-07-24.
  18. ^ Njus, Elliot (August 6, 2010). "Chief executive who helmed turnaround at Lattice Semiconductor resigns". The Oregonian. Retrieved 23 November 2010.
  19. ^ "Lattice to eliminate 64 jobs". Portland Business Journal. July 23, 2009. Retrieved 2009-07-24.
  20. ^ Rogoway, Mike (July 23, 2009). "Lattice posts 10th straight quarterly loss, plans job cuts". The Oregonian. Retrieved 2009-07-24.
  21. ^ Rogoway, Mike (January 28, 2010). "Lattice Semiconductor back in the black during fourth quarter". The Oregonian. Retrieved 28 January 2010.
  22. ^ Rogoway, Mike (October 12, 2010). "Lattice Semi names Intel vet its new CEO". The Oregonian. Retrieved 13 October 2010.
  23. ^ Njus, Elliot, Lattice Semiconductor posts higher fourth quarter, 2011 earnings amid lower demand, The Oregonian, January 26,2012 http://www.oregonlive.com/business/index.ssf/2012/01/lattice_semiconductor_posts_hi.html
  24. ^ Siemers, Erik (February 29, 2012). "Lattice to repurchase up to $20 million in stock". Portland Business Journal. Retrieved February 29, 2012.
  25. ^ John Edwards, EDN. "No room for Second Place." June 1, 2006. Retrieved May 10, 2012.

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