QuickLogic Q3 revenue misses estimates
QUIK•QuickLogic fiscal third-quarter revenue rose 153% year over year to $5.14 million, below the $5.51 million estimate, while adjusted loss per share of $0.07 was wider than the $0.05 estimate.
1. Quarterly results
QuickLogic reported fiscal third-quarter revenue of $5.14 million, up 153% from a year earlier but below the $5.51 million analyst estimate. Its adjusted loss was $0.07 per share, compared with an expected $0.05 loss; net loss was $2.18 million.
2. Margins and outlook
Gross margin improved to 37.4% from negative 23.3% a year earlier. The company said year-over-year revenue growth was driven by new products, though new-product revenue declined sequentially. QuickLogic did not provide specific financial guidance for the current quarter or full year.
