2024 Q2 Form 10-Q Financial Statement

#000143774924013962 Filed on April 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q2
Revenue $124.1M $140.8M $184.3M
YoY Change -32.68% 22.45%
Cost Of Revenue $39.33M $44.61M $55.71M
YoY Change -29.41% 11.98%
Gross Profit $84.75M $96.21M $128.6M
YoY Change -34.1% 27.62%
Gross Profit Margin 68.31% 68.32% 69.77%
Selling, General & Admin $20.01M $36.47M $32.58M
YoY Change -38.59% 13.23%
% of Gross Profit 23.6% 37.91% 25.33%
Research & Development $38.73M $40.33M $35.99M
YoY Change 7.62% 10.55%
% of Gross Profit 45.7% 41.91% 27.99%
Depreciation & Amortization $9.256M $9.129M $8.090M
YoY Change 14.41% 12.69%
% of Gross Profit 10.92% 9.49% 6.29%
Operating Expenses $62.19M $77.93M $69.47M
YoY Change -10.48% 10.26%
Operating Profit $22.57M $18.28M $59.13M
YoY Change -61.84% 56.59%
Interest Expense $933.0K $1.307M $555.0K
YoY Change 68.11% -21.61%
% of Operating Profit 4.13% 7.15% 0.94%
Other Income/Expense, Net $254.0K -$46.00K -$95.00K
YoY Change -367.37% 331.82%
Pretax Income $23.75M $17.84M $58.48M
YoY Change -59.39% 57.92%
Income Tax $1.100M $3.039M $2.600M
% Of Pretax Income 4.63% 17.04% 4.45%
Net Earnings $22.63M $14.80M $55.92M
YoY Change -59.53% 55.01%
Net Earnings / Revenue 18.24% 10.51% 30.34%
Basic Earnings Per Share $0.16 $0.11 $0.41
Diluted Earnings Per Share $0.16 $0.11 $0.40
COMMON SHARES
Basic Shares Outstanding 137.5M 137.6M 137.4M
Diluted Shares Outstanding 138.2M 138.8M 140.1M

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $109.2M $107.5M $112.1M
YoY Change -2.6% -8.82%
Cash & Equivalents $109.2M $107.5M $112.1M
Short-Term Investments
Other Short-Term Assets $38.99M $24.23M $21.83M
YoY Change 78.63% 31.67%
Inventory $101.6M $95.38M $117.1M
Prepaid Expenses
Receivables $103.4M $113.7M $90.82M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $353.2M $340.7M $348.9M
YoY Change 1.24% 16.61%
LONG-TERM ASSETS
Property, Plant & Equipment $50.80M $68.43M $51.09M
YoY Change -0.56% 28.92%
Goodwill $315.4M $315.4M $315.4M
YoY Change 0.0% 0.0%
Intangibles $19.02M $19.89M $23.93M
YoY Change -20.53% -15.59%
Long-Term Investments
YoY Change
Other Assets $14.49M $71.19M $12.32M
YoY Change 17.57% -23.13%
Total Long-Term Assets $474.3M $474.9M $418.7M
YoY Change 13.27% -0.71%
TOTAL ASSETS
Total Short-Term Assets $353.2M $340.7M $348.9M
Total Long-Term Assets $474.3M $474.9M $418.7M
Total Assets $827.5M $815.6M $767.6M
YoY Change 7.8% 6.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $34.96M $33.07M $40.84M
YoY Change -14.41% 6.11%
Accrued Expenses $32.09M $42.00M $40.66M
YoY Change -21.08% 50.25%
Deferred Revenue $5.951M $6.491M $6.065M
YoY Change -1.88% 27.95%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $80.28M $81.56M $97.16M
YoY Change -17.37% -1.92%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $103.8M
YoY Change -100.0% -23.92%
Other Long-Term Liabilities $36.41M $51.38M $39.67M
YoY Change -8.2% -13.98%
Total Long-Term Liabilities $36.41M $51.38M $143.5M
YoY Change -74.62% -21.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $80.28M $81.56M $97.16M
Total Long-Term Liabilities $36.41M $51.38M $143.5M
Total Liabilities $128.7M $132.9M $252.7M
YoY Change -49.07% -15.6%
SHAREHOLDERS EQUITY
Retained Earnings $185.4M $162.8M -$55.17M
YoY Change -436.04% -78.27%
Common Stock $1.378M $1.375M $1.376M
YoY Change 0.15% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $698.8M $682.7M $515.0M
YoY Change
Total Liabilities & Shareholders Equity $827.5M $815.6M $767.6M
YoY Change 7.8% 6.48%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q2
OPERATING ACTIVITIES
Net Income $22.63M $14.80M $55.92M
YoY Change -59.53% 55.01%
Depreciation, Depletion And Amortization $9.256M $9.129M $8.090M
YoY Change 14.41% 12.69%
Cash From Operating Activities $21.93M $29.51M $44.86M
YoY Change -51.12% 3.84%
INVESTING ACTIVITIES
Capital Expenditures $7.155M $3.426M $8.414M
YoY Change -14.96% 90.1%
Acquisitions
YoY Change
Other Investing Activities -$3.286M -$4.321M -$2.615M
YoY Change 25.66% -3.29%
Cash From Investing Activities -$10.44M -$7.747M -$11.03M
YoY Change -5.33% 54.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $8.769M
YoY Change -39.1%
Debt Paid & Issued, Net $0.00 $25.00M
YoY Change 471.43%
Cash From Financing Activities -9.559M -42.17M -$67.56M
YoY Change -85.85% 52.14%
NET CHANGE
Cash From Operating Activities 21.93M 29.51M $44.86M
Cash From Investing Activities -10.44M -7.747M -$11.03M
Cash From Financing Activities -9.559M -42.17M -$67.56M
Net Change In Cash 1.931M -20.41M -$33.59M
YoY Change -105.75% 291.4%
FREE CASH FLOW
Cash From Operating Activities $21.93M $29.51M $44.86M
Capital Expenditures $7.155M $3.426M $8.414M
Free Cash Flow $14.78M $26.09M $36.45M
YoY Change -59.46% -6.01%

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CY2024Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
4321000 usd
CY2023Q2 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
2615000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-7747000 usd
CY2023Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-11029000 usd
CY2024Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
22719000 usd
CY2023Q2 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
33787000 usd
CY2024Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
545000 usd
CY2023Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1235000 usd
CY2024Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
20000000 usd
CY2023Q2 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
10004000 usd
CY2024Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
-0 usd
CY2023Q2 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
25000000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-42174000 usd
CY2023Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-67556000 usd
CY2024Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-441000 usd
CY2023Q2 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
135000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-20851000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-33586000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
128317000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
145722000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
107466000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
112136000 usd
CY2024Q1 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2023Q2 us-gaap Interest Paid Net
InterestPaidNet
1849000 usd
CY2024Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1249000 usd
CY2023Q2 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
413000 usd
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
2099000 usd
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
2000000 usd
CY2024Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
3361000 usd
CY2023Q2 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
399000 usd
CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4684000 usd
CY2023Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
40000 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
692020000 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
14796000 usd
CY2024Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-474000 usd
CY2024Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
14322000 usd
CY2024Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-22174000 usd
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
18494000 usd
CY2024Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
20000000 usd
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
682662000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
487163000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
55923000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
189000 usd
CY2023Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
56112000 usd
CY2023Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-32552000 usd
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
14255000 usd
CY2023Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
10004000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
514974000 usd
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family: Arial; font-size: 9pt; margin: 0pt; text-align: left;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and judgments affecting the amounts reported in our consolidated condensed financial statements and the accompanying notes. We base our estimates and judgments on historical experience, knowledge of current conditions, and our beliefs of what could occur in the future considering available information. While we believe that our estimates, assumptions, and judgments are reasonable, they are based on information available when made, and because of the uncertainty inherent in these matters, the actual results that we experience <em style="font: inherit;"> may </em>differ materially from these estimates under different assumptions or conditions. We evaluate our estimates and judgments on an ongoing basis.</p> <p style="font-family: Arial; font-size: 9pt; margin: 0pt; text-align: left;"> </p> <p style="font-family: Arial; font-size: 9pt; margin: 0pt; text-align: left;">We describe our accounting methods and practices in more detail in our <em style="font: inherit;">2023</em> <em style="font: inherit;">10</em>-K. There have been <em style="font: inherit;">no</em> changes to the significant accounting policies, procedures, or general information described in our <em style="font: inherit;">2023</em> <em style="font: inherit;">10</em>-K that have had a material impact on our consolidated financial statements and related notes. <span style="background-color:#ffffff;">Certain prior year balances have been reclassified to conform to the current year’s presentation.</span></p> <p style="font-family:'Arial', Arial, serif;font-size:10pt;margin:0pt;text-align:left;"> </p> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"></p>
CY2024Q1 us-gaap Fiscal Period
FiscalPeriod
<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b>Fiscal Reporting Periods</b></p> <p style="font-family:'Arial', Arial, serif;font-size:10pt;margin:0pt;text-align:left;"> </p> <p style="font-family: Arial; font-size: 9pt; margin: 0pt; text-align: left;">We report based on a <em style="font: inherit;">52</em> or <em style="font: inherit;">53</em>-week fiscal year ending on the Saturday closest to <em style="font: inherit;"> December 31. </em>Our fiscal <em style="font: inherit;">2024</em> will be a <em style="font: inherit;">52</em>-week year and will end on <em style="font: inherit;"> December 28, 2024, </em>and our fiscal <em style="font: inherit;">2023</em> was a <em style="font: inherit;">52</em>-week year that ended <em style="font: inherit;"> December 30, 2023. </em>Our <em style="font: inherit;">first</em> quarter of fiscal <em style="font: inherit;">2024</em> and <em style="font: inherit;">first</em> quarter of fiscal <em style="font: inherit;">2023</em> ended on <em style="font: inherit;"> March 30, 2024 </em>and <em style="font: inherit;"> April 1, 2023</em>, respectively. All references to quarterly financial results are references to the results for the relevant <em style="font: inherit;">13</em>-week fiscal period.</p> <p style="font-family: Arial; font-size: 9pt; margin: 0pt; text-align: left;"> </p> <p style="font-family:'Arial', Arial, serif;font-size:10pt;margin:0pt;text-align:left;"></p>
CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Arial', Arial, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Concentrations of Risk</b></p> <p style="font-family:'Arial', Arial, serif;font-size:10pt;margin:0pt;text-align:left;"> </p> <p style="font-family: Arial; font-size: 9pt; margin: 0pt; text-align: left;">Potential exposure to concentrations of risk <em style="font: inherit;"> may </em>impact revenue and accounts receivable. Distributors have historically accounted for a significant portion of our total revenue. Revenue attributable to distributors as a percentage of total revenue was <span style="background-color:#ffffff;">87% and 88%</span> for the <em style="font: inherit;">first</em> quarters of fiscal <em style="font: inherit;">2024</em> and <em style="font: inherit;">2023</em>, respectively. Distributors also account for a substantial portion of our net accounts receivable. Our <span style="-sec-ix-hidden:c111489139"><span style="-sec-ix-hidden:c111489140">three</span></span> largest distributors accounte<span style="background-color:#ffffff;">d for 42</span><span style="background-color:#ffffff;">%, 30%, and 10</span><span style="background-color:#ffffff;">% of net accounts receivable at </span><em style="font: inherit;"> March 30, 2024</em><span style="background-color:#ffffff;"> and 36%, 29%, and 18%</span> of net accounts receivable at <em style="font: inherit;"> December 30, 2023</em>.</p>
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
14796000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
55923000 usd
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
137475000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
137418000
CY2024Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1299000
CY2023Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2683000
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
138774000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
140101000
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.11
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.41
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.4
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
950000
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
141000
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
140815000 usd
CY2024Q1 lscc Percentage Of Revenue
PercentageOfRevenue
1 pure
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
184310000 usd
CY2023Q2 lscc Percentage Of Revenue
PercentageOfRevenue
1 pure
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
140815000 usd
CY2024Q1 lscc Percentage Of Revenue
PercentageOfRevenue
1 pure
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
184310000 usd
CY2023Q2 lscc Percentage Of Revenue
PercentageOfRevenue
1 pure
CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
11194000 usd
CY2024Q1 lscc Contract With Customer Asset Revenue Recorded During Period
ContractWithCustomerAssetRevenueRecordedDuringPeriod
3947000 usd
CY2024Q1 us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
418000 usd
CY2024Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
14723000 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
5304000 usd
CY2024Q1 lscc Contract With Customer Liability Accrued For Estimated Future Stock Rotation And Scrap Returns
ContractWithCustomerLiabilityAccruedForEstimatedFutureStockRotationAndScrapReturns
4551000 usd
CY2024Q1 lscc Contract With Customer Liability Release Of Accruals For Recognized Stock Rotation And Scrap Returns
ContractWithCustomerLiabilityReleaseOfAccrualsForRecognizedStockRotationAndScrapReturns
3364000 usd
CY2024Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
6491000 usd
CY2024Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
98940000 usd
CY2023Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
104373000 usd
CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
-0 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
-0 usd
CY2024Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
98940000 usd
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
104373000 usd
CY2024Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
67605000 usd
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
65396000 usd
CY2024Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
27779000 usd
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
33430000 usd
CY2024Q1 us-gaap Inventory Net
InventoryNet
95384000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
98826000 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
51390000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
49546000 usd
CY2024Q1 lscc Liability For Noncancelable Contracts Current
LiabilityForNoncancelableContractsCurrent
10520000 usd
CY2023Q4 lscc Liability For Noncancelable Contracts Current
LiabilityForNoncancelableContractsCurrent
11418000 usd
CY2024Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
6491000 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
5304000 usd
CY2024Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
4809000 usd
CY2023Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
6758000 usd
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4164000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
6997000 usd
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
32049000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
36048000 usd
CY2024Q1 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
0 usd
CY2023Q2 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
1785000 usd
CY2024Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
67000 usd
CY2023Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
67000 usd
CY2024Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
67000 usd
CY2023Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
1852000 usd
CY2023Q4 us-gaap Restructuring Reserve
RestructuringReserve
6618000 usd
CY2024Q1 us-gaap Restructuring Charges
RestructuringCharges
1704000 usd
CY2024Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
3333000 usd
CY2024Q1 us-gaap Restructuring Reserve
RestructuringReserve
4989000 usd
CY2022Q4 us-gaap Restructuring Reserve
RestructuringReserve
6932000 usd
CY2023Q2 us-gaap Restructuring Charges
RestructuringCharges
30000 usd
CY2023Q2 us-gaap Payments For Restructuring
PaymentsForRestructuring
472000 usd
CY2023Q2 us-gaap Restructuring Reserve
RestructuringReserve
6490000 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y7M6D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.06 pure
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
2100000 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1900000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
144900000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
14487000 usd
CY2024Q1 lscc Rightofuse Assets Obtained For New And Modified Lease Contracts During The Period
RightofuseAssetsObtainedForNewAndModifiedLeaseContractsDuringThePeriod
4684000 usd
CY2024Q1 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
1865000 usd
CY2024Q1 lscc Operating Lease Rightofuse Asset Adjustments For Present Value And Foreign Currency Effects
OperatingLeaseRightofuseAssetAdjustmentsForPresentValueAndForeignCurrencyEffects
-267000 usd
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
17039000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
16310000 usd
CY2024Q1 lscc Operating Lease Liability Additions
OperatingLeaseLiabilityAdditions
4684000 usd
CY2024Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
268000 usd
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
2099000 usd
CY2024Q1 lscc Operating Lease Liabilities Adjustments For Present Value Foreign Currency And Restructuring Liability Effects
OperatingLeaseLiabilitiesAdjustmentsForPresentValueForeignCurrencyAndRestructuringLiabilityEffects
-299000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
18864000 usd
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
12799000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
5114000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
6098000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4492000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2783000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2232000 usd
CY2024Q1 lscc Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
447000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
21166000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2302000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
18864000 usd
CY2024Q1 lscc Operating Lease Liability For Previously Restructured Facilities
OperatingLeaseLiabilityForPreviouslyRestructuredFacilities
4100000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
146000000 usd
CY2024Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1136000 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1140000 usd
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
18494000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14255000 usd
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3000000 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2600000 usd
CY2024Q1 us-gaap Decrease In Unrecognized Tax Benefits Is Reasonably Possible
DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible
36000000 usd
CY2024Q1 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p style="font-family: Arial; font-size: 11pt; margin: 0pt; text-align: left;"><b><a href="#" id="note12" title="note12"></a>Note <em style="font: inherit;">12</em> - Contingencies</b></p> <p style="font-family:'Arial', Arial, serif;font-size:10pt;margin:0pt;text-align:left;"> </p> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b>Legal Proceedings</b></p> <p style="font-family:'Arial', Arial, serif;font-size:10pt;margin:0pt;text-align:left;"> </p> <p style="font-family: Arial; font-size: 9pt; margin: 0pt; text-align: left;">On or about <em style="font: inherit;"> December 19, 2018, </em>Steven De Jaray, Perienne De Jaray and Darrell Oswald (collectively, the “Plaintiffs”) commenced an action against the Company in the Multnomah County Circuit Court of the State of Oregon, in connection with the sale of certain products by the Company to the Plaintiffs in or around <em style="font: inherit;">2008.</em> The Plaintiffs alleged the Company violated the Lanham Act, engaged in negligence, fraud, and breach of contract by failing to disclose to the Plaintiffs the export-controlled status of the subject parts. In <em style="font: inherit;"> January 2019, </em>we removed the action to the United States District Court for the District of Oregon (the “Court”). On <em style="font: inherit;"> May 24, 2023, </em>the Plaintiffs filed a <em style="font: inherit;">second</em> amended complaint, which added Apex-Micro Manufacturing Corporation (“Apex-Micro”) as a plaintiff and removed the violation of the Lanham Act claim.  The Plaintiffs sought damages of $180 million, punitive damages, and other remedies. On <em style="font: inherit;"> January 18, 2024, </em>the court dismissed the claims against the Company by Ms. De Jaray and Mr. Oswald. The trial for the remaining claims was held from <em style="font: inherit;"> January 30, 2024 </em>to <em style="font: inherit;"> February 15, 2024. </em>On <em style="font: inherit;"> February 13, 2024, </em>the Court granted the Company’s Rule <em style="font: inherit;">50</em> motion in part and entered judgment in the Company’s favor as to all of Mr. De Jaray’s claims and Apex-Micro’s negligence claims. On <em style="font: inherit;"> February 15, 2024, </em>the jury found that the Company was <em style="font: inherit;">not</em> liable for all outstanding claims and judgment was entered  in favor of the Company. On <em style="font: inherit;"> March 15, 2024, </em>Mr. De Jaray and Apex-Micro filed a Notice of Appeal to the United States Court of Appeals for the Ninth Circuit. On <em style="font: inherit;"> March 18, 2024, </em>Ms. De Jaray filed a separate Notice of Appeal . The plaintiffs’ appeal opening brief is currently due <em style="font: inherit;"> June 10, 2024. </em>The Company will file an appeal answering brief.</p> <p style="font-family: Arial; font-size: 9pt; margin: 0pt; text-align: left;"> </p> <p style="font-family: Arial; font-size: 9pt; margin: 0pt; text-align: left;">From time to time, we are exposed to certain additional asserted and unasserted potential claims. We review the status of each significant matter and assess its potential financial exposure. If the potential loss from any claim or legal proceeding is considered probable and a range of possible losses can be estimated, we then accrue a liability for the estimated loss. Legal proceedings are subject to uncertainties, and the outcomes are difficult to predict. Because of such uncertainties, accruals are based only on the best information available at the time. As additional information becomes available, we reassess the potential liability related to pending claims and litigation and <em style="font: inherit;"> may </em>revise estimates.</p>

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