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Thu, Feb. 4, 6:35 PM
- Pixelworks (NASDAQ:PXLW) has guided on its Q4 earnings call for Q1 revenue of $10M-$11M and EPS of -$0.13 to -$0.20, below a consensus of $12.7M and -$0.11.
- Shares haven't moved after hours since the guidance was provided. With Pixelworks having plunged on Tuesday following a Q4 pre-announcement that included downbeat Q1 comments and news CEO Bruce Walicek has resigned, expectations were low going into earnings.
- Pixelworks' Q4 results, earnings release
Thu, Feb. 4, 4:12 PM
Wed, Feb. 3, 5:35 PM
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Tue, Feb. 2, 12:47 PM
Tue, Feb. 2, 10:14 AM| Tue, Feb. 2, 10:14 AM
Mon, Feb. 1, 5:25 PM
- Bruce Walicek has resigned as Pixelworks' (NASDAQ:PXLW) CEO, and as a board member, for "personal reasons." He'll remain a consultant to the company for up to six months.
- Stephen Domenik, a Pixelworks board member and a partner at VC firm Seven Rosen Funds, has been named interim CEO while the board searches for Walicek's successor. In addition, Todd DeBonis, formerly the VP of global sales & business development for RF chipmaker TriQuint Semi (has merged with RF Micro to form Qorvo), has been hired to serve as COO.
- Also: Pixelworks says it now expects to report Q4 revenue of $13.5M and a GAAP net loss of $0.11. Prior guidance was for revenue of $13M-$15M, GAAP EPS of -$0.09 to -$0.18, and non-GAAP EPS of -$0.05 to -$0.14. Consensus is at $14M and -$0.09.
- Pixelworks: "[T]he challenging market environment continues to impact our results and will likely contribute to greater than normal seasonal weakness in the first quarter of 2016." More details about Q1 will be given during Pixelworks' Thursday Q4 earnings call.
- PXLW -3.3% after hours to $2.05. After hours volume has only totaled 800 shares thus far.
Dec. 4, 2015, 12:44 PM
Dec. 4, 2015, 9:27 AM
Nov. 6, 2015, 12:44 PM
Nov. 6, 2015, 10:30 AM
- Though it beat Q3 EPS estimates and just slightly missed on revenue, Pixelworks (NASDAQ:PXLW) guided on its earnings call (webcast) for Q4 revenue of $13M-$15M and EPS of -$0.05 to -$0.14, below a consensus of $17.1M and -$0.04.
- The company sees macro pressures in China and other emerging markets weighing on Q4 projector video processor sales, and forecasts the projector market will now decline slightly Y/Y in 2015. It expects the market to return to growth in 2016, and for Pixelworks to outgrow it via share gains. A ~50% share is targeted.
- Mobile (Iris video processor) revenue is expected to grow modestly in Q4, but only totaled $250K in Q3. A recent Asus tablet design win is said to be driving interest from third parties. As expected, a second-gen Iris chip began volume production in Q3.
- Q3 details: Projectors were 91% of revenue, TV/panels 7%, and mobile 2%. Boosting EPS: Gross margin (non-GAAP) was 50.2% vs. 48.3% in Q2 and 50.4% a year ago, and above guidance of 48%-50%. Q4 GM guidance is also at 48%-50%. Also helping: Operating expenses fell by $800K Y/Y to $8.5M. Pixelworks ended Q3 with $29M in cash, and a $3M in short-term debt.
- Q3 results, PR
Nov. 5, 2015, 4:08 PM
- Pixelworks (NASDAQ:PXLW): Q3 EPS of -$0.01 beats by $0.03.
- Revenue of $16.6M (-3.0% Y/Y) misses by $0.57M.
Nov. 4, 2015, 5:35 PM
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Sep. 8, 2015, 10:57 AM
- Vague rumors that Pixelworks (NASDAQ:PXLW) has landed a design win for Apple's expected iPad Pro appear to have given a lift to shares. The Nasdaq is up 1.6%.
- Apple is expected to show off the Pro, rumored to have a 12.9" display, at its Wednesday event. Pixelworks has said it plans to start mass-production for its Iris mobile video processor in Q3, and that a second-gen Iris chip is sampling.
Aug. 7, 2015, 6:58 PM
- Pixelworks (NASDAQ:PXLW) closed at $4.76 today after pricing its stock offering (first announced yesterday afternoon) at $4.75, nearly 14% below Thursday's close.
- 3.25M shares are being sold, with the underwriter having a 487.5K-share overallotment option. Not counting the overallotment option, gross proceeds are set to total $15.4M.
Aug. 7, 2015, 9:14 AM
Aug. 6, 2015, 5:36 PM
Pixelworks Inc designs, develops & markets video & pixel processing semiconductors, intellectual property cores, software & custom ASIC solutions for digital video applications. Its products can be used in a various devices.
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