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Lattice lowers 4Q revenue guidance
Lattice Semiconductor lowered its revenue guidance for the fourth quarter ending December 29, 2012 to reflect weakness in the communications market combined with continued weakness in the worldwide distribution channel.
Guidance remains unchanged for gross margin and total operating expenses.
Revenue for the fourth quarter 2012 is now expected to decline approximately 6% to 8% on a sequential basis. This compares to prior guidance provided on October 18, 2012 that revenue was expected to be approximately plus or minus 2% on a sequential basis.
Gross margin percentage is expected to be approximately 53% plus or minus 2%. This is unchanged from prior guidance.
Total operating expenses are expected to be approximately $43 million, including approximately $5.5 million in restructuring charges. This is unchanged from prior guidance.
