- Expands Hearables Engagements Pipeline
- Expands EOS S3 Sensor Processing Platform Product Team
- Renewed line of credit with Silicon Valley Bank with improved covenant terms
SUNNYVALE, Calif., Sept. 06, 2017 (GLOBE NEWSWIRE) -- QuickLogic Corporation (NASDAQ:QUIK), a developer of ultra-low power multi-core voice-enabled SoCs, embedded FPGA IP, display bridge and programmable logic solutions, provided an EOS™ S3 Sensor Processing update.
Since reporting its second quarter 2017 results on August 9th, QuickLogic has significantly increased the number of engagements with hearable companies. To support growth of its entire EOS S3 Sensor Processing Platform, the company has filled three newly-created senior-level positions for product management, hardware solutions architecture and system engineering. These key hires significantly expand the total sensor processing team bandwidth for the increase in customer engagements.
To support these expansions, QuickLogic has renewed its line of credit with Silicon Valley Bank with improved covenants. For more information on the line of credit with Silicon Valley Bank, please see the SEC Form 8-K filed on September 5, 2017.
For greater detail on EOS S3 Sensor Processing, please visit today’s blog from QuickLogic’s President and CEO Brian Faith at http://blog.quicklogic.com. For future investor updates that will be posted in the QuickLogic blog, please subscribe for email alerts at the same link.
About QuickLogic
QuickLogic Corporation (NASDAQ:QUIK) enables OEMs to maximize battery life for highly differentiated, immersive user experiences with Smartphone, Wearable, Hearable and IoT devices. QuickLogic delivers these benefits through industry leading ultra-low power customer programmable SoC semiconductor solutions, embedded software, and algorithms for always-on voice and sensor processing. The company's embedded FPGA initiative also enables SoC designers to easily implement post production changes, and increase revenue by providing hardware programmability to their end customers. For more information about QuickLogic, visit
www.quicklogic.com.
Forward Looking Statements
This press release contains forward-looking statements regarding our future business expectations, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors including: delays in the market acceptance of the Company’s new products; the ability to convert design opportunities into customer revenue; our ability to replace revenue from end-of-life products; the level and timing of customer design activity; the market acceptance of our customers’ products; the risk that new orders may not result in future revenue; our ability to introduce and produce new products based on advanced wafer technology on a timely basis; our ability to adequately market the low power, competitive pricing and short time-to-market of our new products; intense competition, including the introduction of new products by competitors; our ability to hire and retain qualified personnel; changes in product demand or supply; capacity constraints; and general economic conditions. These and other potential factors and uncertainties that could cause actual results to differ from the results predicted are described in more detail in the Company’s public reports filed with the Securities and Exchange Commission (the "SEC"), including the risks discussed in the “Risk Factors” section in the Company’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and in the Company’s prior press releases, which are available on the Company's Investor Relations website at ir.quicklogic.com/and on the SEC website at www.sec.gov. In addition, please note that the date of this press release is August 9, 2017, and any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. We undertake no obligation to update these statements as a result of new information or future events.
The QuickLogic logo and QuickLogic are registered trademarks of QuickLogic Corporation and ArcticPro is a trademark of QuickLogic. All other brands or trademarks are the property of their respective holders and should be treated as such.
Code: QUIK-G
Press Contact: Andrea Vedanayagam Veda Communications 408.656.449 pr@quicklogic.com IR Contact: Kirsten Chapman LHA Investor Relations (415) 433-3777 ir@quicklogic.com
