Semiconductor solutions provider,
) reported in-line bottom results for third-quarter 2013, but it
beat the estimates on top-line. The company posted net loss of 5
cents per share compared with 6 cents in the year-ago quarter.
Moreover, quarterly consolidated loss incurred by this
company, which invents and establishes customer-friendly
solutions for mobile and portable electronics, narrowed 17.8% to
$2.3 million from the loss of $2.8 million in the year-ago
The year-over-year narrowing of loss was primarily due to a
boost in company's top-line. However, top-line growth was
partially offset by a rise in QuickLogic's operating expenses,
which restricted the company to come out of the red.
QuickLogic reported adjusted net loss (excluding stock-based
compensation) of $2 million, or 4 cents per share, against net
loss of $2.2 million, or 5 cents per share in the year-ago
Revenues exceeded the Zacks Consensus Estimate of $6 million
by an impressive margin of 50%. Total revenue surged 77.7%
sequentially and 148% year over year to $9.1 million, mainly
aided by growth in revenues from the company's new product line
(contributed 79% of revenues in the quarter).
The boost in the company's top-line was facilitated by
increased demand for new products like some Customer Specific
Standard Products (CSSPs), used in tablets and smart phones; and
shipment of a certain product ahead of the quarter(due to the
timing of a national Chinese holiday).
Majority of the company's revenues are derived from Korea,
which contributed 68% to its total revenues, followed by 11% from
the U.S. segment.
QuickLogic's gross profit rose 73.8% to $3 million. However
gross margins contracted by 14.2% to 33.4% in the
As of Sep 29, 2013, the company's cash and cash equivalents
and marketable securities totaled $14.9 million, compared with
$22.6 million as of Dec 30, 2012.
QuickLogic currently carries a Zacks Rank #3 (Hold). Some
better-placed stocks in the same industry are
Microchip Technology Inc.
NXP Semiconductors NV
). While Microchip and Supertex carry a Zacks Rank #1 (Strong
Buy), NXP Semiconductor holds a Rank #2 (Buy).
NXP SEMICONDUCT (NXPI): Free Stock Analysis
QUICKLOGIC CORP (QUIK): Get Free Report
SUPERTEX INC (SUPX): Free Stock Analysis
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