QuickLogic Reports Fourth Quarter and Fiscal 2018 Results

QuickLogic uses its website ( www.quicklogic.com), the company blog QuickLogic HotSpot ( https://www.quicklogic.com/blog/), corporate Twitter account (@QuickLogic_Corp), Facebook page ( https://www.facebook.com/QuickLogic), and LinkedIn page ( https://www.linkedin.com/company/13512/) as channels of distribution of information about its products, its planned financial and other announcements, its attendance at upcoming investor and industry conferences, and other matters. Such information may be deemed material information, and QuickLogic may use these channels to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor the Company's website and its social media accounts in addition to following the Company's press releases, SEC filings, public conference calls, and webcasts.

Non-GAAP Financial Measures

QuickLogic reports financial information in accordance with United States Generally Accepted Accounting Principles, or U.S. GAAP, but believes that non-GAAP financial measures are helpful in evaluating its operating results and comparing its performance to comparable companies. Accordingly, the Company excludes charges related to stock-based compensation, restructuring, the effect of the write-off of long-lived assets and the tax effect on other comprehensive income in calculating non-GAAP (i) income (loss) from operations, (ii) net income (loss), (iii) net income (loss) per share, and (iv) gross margin percentage. The Company provides this non-GAAP information to enable investors to evaluate its operating results in a manner similar to how the Company analyzes its operating results and to provide consistency and comparability with similar companies in the Company's industry.

Management uses the non-GAAP measures, which exclude gains, losses and other charges that are considered by management to be outside of the Company's core operating results, internally to evaluate its operating performance against results in prior periods and its operating plans and forecasts. In addition, the non-GAAP measures are used to plan for the Company's future periods, and serve as a basis for the allocation of the Company's resources, management of operations and the measurement of profit-dependent cash and equity compensation paid to employees and executive officers.

Investors should note, however, that the non-GAAP financial measures used by QuickLogic may not be the same non-GAAP financial measures, and may not be calculated in the same manner, as that of other companies. QuickLogic does not itself, nor does it suggest that investors should, consider such non-GAAP financial measures alone or as a substitute for financial information prepared in accordance with U.S. GAAP. A reconciliation of U.S. GAAP financial measures to non-GAAP financial measures is included in the financial statements portion of this press release. Investors are encouraged to review the related U.S. GAAP financial measures and the reconciliation of non-GAAP financial measures with their most directly comparable U.S. GAAP financial measures.

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; general economic conditions; political events, international trade disputes, war, terrorism, natural disasters, public health issues, and other business interruptions that could disrupt supply or delivery of, or demand for, the Company's products; and changes in tax rates and exposure to additional tax liabilities. 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 http://ir.quicklogic.com/and on the SEC website at www.sec.gov. In addition, please note that the date of this press release is February 13, 2019, 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.

ArcticLink, QuickLogic and the QuickLogic logo are registered trademarks and EOS and ArcticPro are trademarks of QuickLogic Corporation. All other brands or trademarks are the property of their respective holders and should be treated as such.

CODE: QUIK-E

-Tables Follow –

QUICKLOGIC CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

(Unaudited)




Three Months Ended



Year Ended




December 30,
2018



December 31,
2017



September 30,
2018



December 30,
2018



December 31,
2017


Revenue


$

3,233



$

2,981



$

3,510



$

12,629



$

12,149


Cost of revenue



1,561




1,478




1,767




6,295




6,627


Gross profit



1,672




1,503




1,743




6,334




5,522


Operating expenses:





















Research and development



2,422




2,458




2,461




9,948




9,572


Selling, general and administrative



2,302




2,519




2,509




9,982




9,900


Total operating expense



4,724




4,977




4,970




19,930




19,472


Loss from operations



(3,052)




(3,474)




(3,227)




(13,596)




(13,950)


Interest expense



(31)




(18)




(21)




(108)




(115)


Interest and other income, net



51




23




17




77




21


Loss before income taxes



(3,032)




(3,469)




(3,231)




(13,627)




(14,044)


Provision for (benefit from) income taxes



33




(60)




29




152




87


Net loss


$

(3,065)



$

(3,409)



$

(3,260)



$

(13,779)



$

(14,131)


Net loss per share:





















Basic and Diluted


$

(0.03)



$

(0.04)



$

(0.03)



$

(0.15)



$

(0.18)


Weighted average shares:





















Basic and Diluted



95,296




80,353




94,725




89,110




77,291



« Previous Page 1 | 2 | 3 | 4 | 5  Next Page »
Featured Video
Jobs
CAD Engineer for Nvidia at Santa Clara, California
Senior Platform Software Engineer, AI Server - GPU for Nvidia at Santa Clara, California
Design Verification Engineer for Blockwork IT at Milpitas, California
GPU Design Verification Engineer for AMD at Santa Clara, California
Senior Firmware Architect - Server Manageability for Nvidia at Santa Clara, California
Upcoming Events
SEMICON Japan 2024 at Tokyo Big Sight Tokyo Japan - Dec 11 - 13, 2024
PDF Solutions AI Executive Conference at St. Regis Hotel San Francisco - Dec 12, 2024
DVCon U.S. 2025 at United States - Feb 24 - 27, 2025



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise