A system and method are provided for performing 32-bit or dual 16-bit floating-point arithmetic operations using logic circuitry. An operating mode that specifies an operating mode for a multiplication operation is received, where the operating mode is one of a 32-bit floating-point mode and a dual 16-bit floating-point mode. Based on the operating mode, nine recoding terms for a mantissa of at least one floating-point input operand are determined. A dual-mode multiplier array circuit that is configurable to generate partial products for either one 32-bit floating-point result or for two 16-bit floating-point results computes the partial products based on the nine recoding terms. The partial products are processed to generate an output based on the operating mode.