Lattice Semiconductor To Discontinue Millimeter Wave Business;Sees Charges In Q2
Lattice Semiconductor Corp. (LSCC) announced that it will discontinue its millimeter wave business, which is expected to result in about $25 million of primarily non-cash restructuring and impairment charges in the second quarter of 2018, and an annualized reduction in operating expenses of about $13 million.
The company noted that it does not expect a significant impact to its potential full year 2018 revenue due to strength in other areas of its business.
Glen Hawk, Lattice Semiconductor’s Interim Chief Executive Officer, said, ” We have taken this concrete action to further sharpen our focus on the compelling opportunities in our core business.”
by RTTNews Staff Writer
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