Lattice Semiconductor To Discontinue Millimeter Wave Business;Sees Charges In Q2

(RTTNews) - 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."