Lattice Semiconductor Q2 2006 Earnings Conference Call Transcript (LSCC)

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2006-07-26 03:37:34.0

Tags: Lattice Semiconductor Corp.

Question-and-Answer Session

Operator

[Operator Instructions]. And now let’s go to Shawn Webster with JP Morgan.

Shawn Webster - JP Morgan

Hi, this is Shawn for Chris Danely. Good quarter guys, congratulations on the profit improvement.

Jan Johannessen

Thank you.

Shawn Webster - JP Morgan

Can you give us a little bit more color on your backlog, where you saw the best improvement sequentially? Can you talk about also what your book to bill ratio is and what the turns required are?

Jan Johannessen

Sure we specifically don’t give at quantitative breakout of our backlog, but I will say that the backlog grew nicely in double digit rates in turns of sequentially growth. The book to bill was above one. With regard to turn -– let me just share some data that we typically discuss with the turn and then I have some new data for the investment community. Historically, we have given turns data for the direct channel only and as many of you know the direct channel accounts for slightly more than half of our overall business. For the direct channel turns last quarter were about 40%. Recently we have been able to gain agreements from our major distributors to provide us data on their quarter beginning and customer backlog and that data allows us to calculate distributor turns on an equivalent basis to the direct turns number as well as being able to calculate an overall turns number, and therefore going forward and in forum we plan only to provide the overall turns number as we believe that number is more useful than the direct turns number in evaluating our business.

So let me now give you the overall turns number to the last two quarters. For Q1 overall turns were 56% and for Q2 overall turns were 50%, now to achieve the mid part of the guidance that we just gave the overall turns number needs to be approximately 45% for Q3, so hopefully that answers all your questions.

Shawn Webster - JP Morgan

That’s very helpful, thanks.

Jan Johannessen

Sure.

Operator

Next we’ll hear from David Duley with Merriman Curhan Ford.

David Duley - Merriman Curhan Ford & Co

Yeah congratulation on a last quarter and return to profitability. A couple of things here on the new FPGA families, can you give us any more statistics about the new families, either winds, cumulative totals either this quarter or in total and maybe give us an idea what those two new product families did sequentially?

 

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