UniPixel (NASDAQ:UNXL) expects Q4 revenue to be ~$1.4M (+53% Q/Q) vs. consensus revenue of $1.73M.
Christine Russell, chief financial officer of UniPixel, said, "As the Company ramps production to fulfill 2016 design wins, we expect to see new product revenue increasingly dominate the upcoming quarters. In Q4 2016 the new designs were largely responsible for revenue increases, but revenue from legacy products was also up slightly over the prior quarter. We are seeing a revenue ramp that we expect will accelerate as we work our way through 2017. As we have discussed, the process of supplying customers with sensors in initial smaller volumes to use for short runs to tune their manufacturing process is later increased each month as they move towards volume production. This process can take six to nine months for the manufacturer to come to full volume production from the time they notify us that we have won the business."
Uni-Pixel (UNXL -5.9%) posted revenue of $1M vs. $1.4M Y/Y. President and CEO Jeffrey Hawthorne considers the quarter a continuation of a "transformation arc" for the company as it "continue to make improvements as we refine our manufacturing processes to effectively and efficiently meet the new demand we expect for our products."
Cost of revenues of $2.7M vs. $2.4M Y/Y, SG&A expense of $1.4M vs. $1.6M Y/Y, R&D expense of $0.9M vs. $1.2M Y/Y, adjusted EBITDA of -$4.2M vs. -$3.8M Y/Y, net loss of $6.1M vs. $15.7M Y/Y, cash and cash equivalents of $11.3M, working capital of $14.4M and no convertible notes or debt.