QuickLogic Reports Fourth Quarter and Fiscal 2019 Results

 

QUICKLOGIC CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

(Unaudited)




December 29, 2019



December 30, 2018 (1)


ASSETS









Current assets:









Cash and cash equivalents


$

21,448



$

26,363


Restricted cash



100




100


Accounts receivable, net



1,991




2,209


Inventories



3,260




3,836


Other current assets



1,565




1,775


Total current assets



28,364




34,283


Property and equipment, net



830




1,449


Internal Use Software, net



333




-


Right of use assets



2,370




-


Intangible assets, net



1,008




-


Goodwill



185




-


Other assets



314




354


TOTAL ASSETS


$

33,404



$

36,086


LIABILITIES AND STOCKHOLDERS' EQUITY









Current liabilities:









Revolving line of credit


$

15,000



$

15,000


Trade payables



1,003




1,488


Accrued liabilities



1,133




1,903


Deferred Revenue



158




-


Current portion of lease obligations



704




316


Total current liabilities



17,998




18,707


Long-term liabilities:









Lease obligations, less current portion



1,583




108


Other long-term liabilities



-




16


Total liabilities



19,581




18,831


Stockholders' equity:









Common stock, par value (2)



8




7


Additional paid-in capital  (2)



297,073




285,062


Accumulated deficit



(283,258)




(267,814)


Total stockholders' equity



13,823




17,255


TOTAL LIABILITIES AND STOCKHOLDERS '  EQUITY


$

33,404



$

36,086









(1) 

Derived from the December 30, 2018 audited balance sheet included in the 2018 Annual Report on Form 10-K of QuickLogic Corporation.

(2) 

Common stock, par value and additional paid-in capital amounts are adjusted to reflect 1-for-14 reverse stock split effected on December 24, 2019.


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