Thu, Aug. 6, 4:48 PM
- Pixelworks (NASDAQ:PXLW) plans a public stock offering of yet-undisclosed size and pricing. Uses for net proceeds "may include, among other things, increasing our working capital, financing of ongoing operating expenses and overhead, and funding of capital expenditures, such as the continued development of solutions for the digital projector, digital television, and mobile device markets."
- The video processor developer had $14.4M in cash at the end of Q2, and $3M in short-term credit lines. Shares have tumbled to $4.80 in AH trading.
Fri, Jul. 31, 9:54 AM
- Pixelworks (NASDAQ:PXLW) followed up its slight Q2 beat by guiding on its earnings call (transcript) for Q3 revenue of $16M-$18M and EPS of -$0.01 to -$0.10, in-line with a consensus of $17.1M and -$0.04.
- CEO Bruce Walicek stated projector design win activity remained strong for Pixelworks' Topaz video processors, and that mass-production of its Iris mobile video processor is expected to start in Q3. A next-gen Iris chip is sampling.
- Projector-related chip sales rose in Q2, while TV/panel-related chip sales fell. Gross margin fell to 48.3% from Q1's 48.8% and Q2 2014's 51%; Q3 GM guidance is at 48%-50%. Operating expenses fell by $400K Q/Q and rose by $100K Y/Y to $8.8M.
- Q2 results, PR
Thu, Jul. 30, 4:08 PM
Thu, Apr. 30, 7:26 PM
- In addition to missing Q1 estimates, Pixelworks (NASDAQ:PXLW) guided on its CC (webcast) for Q2 revenue of $14M-$15M and EPS of -$0.04 to -$0.14, below a consensus of $18.1M and -$0.01.
- The continued ramp of projector SoC shipments to Pixelworks' co-development project partner is expected to be offset by a "temporary shift in order patterns" at other projector clients. New designs were seen in Q1 for Pixelworks' Iris mobile video processor; a second-gen Iris chip is expected to enter mass-production by year's end.
- Q1 chip sales rose 35% Y/Y to $14.4M; Pixelworks thinks it gained projector chip share. Licensing revenue was "negligible." Gross margin (non-GAAP) was 48.8% vs. 50.3% in Q4 and 60.1% a year ago; the Y/Y drop has to do with a mix shift towards chip revenue. Q2 GM guidance is at 48%-50%
- GAAP operating.expenses fell by $200K Y/Y to $10.2M - $6.3M was spent on R&D, and $3.9M on SG&A. Pixelworks ended Q1 with $15.6M in cash, and a $3M short-term credit line.
- Shares have fallen to $4.00 AH.
- Q1 results, PR.
Thu, Apr. 30, 4:11 PM
Fri, Feb. 6, 10:37 AM
- Pixelworks (NASDAQ:PXLW) guided on its Q4 CC (transcript) for Q1 revenue of $14M-$16M and EPS of -$0.03 to -$0.13 vs. a consensus of $15.9M and -$0.06.
- However, the company also said it "delivered high volume production of the advanced SoC we developed under co-development partnership and expect this project to continue to ramp into 2015 and drive year-on-year growth in our overall product business for large-screen applications." There has been speculation Apple is the SoC partner in question.
- Also: During the Q&A, CEO Bruce Walicek mentioned Pixelworks has seen "some early [design] wins" for its Iris mobile video processors, while cautioning such wins don't always lead to production volumes. New Iris offerings will be previewed at the Mobile World Congress (runs from March 2-5).
- While total revenue was nearly flat Y/Y in Q4, chip sales rose 27%, thanks to growing demand from the digital projector market. Digital projection accounted for 89% of chip sales, and TVs/panels 11%. Licensing revenue (lumpy) totaled just $200K.
- Q4 gross margin was 50.3% - down from 50.4% in Q3 and 57.8% a year ago, but above guidance of 48%-50% and contributing to the EPS beat. Q1 GM guidance is also at 48%-50%. GAAP operating expenses rose 24% Y/Y to $10.2M, with R&D spend totaling $6.4M.
- Q4 results, PR
- Update: SA commenter hedgeguySF states the co-development partnership doesn't involve Apple, and is for a projector SoC.
Thu, Feb. 5, 4:11 PM
Wed, Feb. 4, 5:35 PM
- ACET, ACLS, ADNC, AHL, AIV, ARCW, ASEI, ASYS, ATHN, ATR, ATVI, BCOV, BEBE, BMI, BRKS, BRS, BWLD, CALD, CME, CPST, CTRL, CUTR, DCT, DV, ECHO, ECOM, EGAN, EGOV, ENH, EXPE, FLDM, FLT, FWM, GPRO, HME, IMPV, KIM, KRG, LF, LGF, LNKD, MCK, MRIN, MTD, MXWL, NTGR, NUAN, OLN, ONNN, OUTR, P, PCTY, PDFS, PDM, PXLW, RDEN, RENT, SIMG, SLH, SPF, SPSC, SRCL, SWIR, SYMC, TPX, TSYS, TWTR, UBNT, UEPS, VRSN, WAIR, YELP, YRCW
Thu, Jan. 22, 12:17 PM| Thu, Jan. 22, 12:17 PM | Comment!
Oct. 31, 2014, 9:21 AM
- While its Q3 results were nearly in-line, Pixelworks (NASDAQ:PXLW) guided on its CC (transcript) for Q4 revenue of $14M-$16M and EPS of -$0.11 to -$0.21, below a consensus of $18.6M and $0.02.
- Digital projection chip sales rose 34% Q/Q in Q3 to $14.9M due to the ramping of sales of both new and older platforms, but TV/panel chip sales fell 44% due to "inventory adjustments at certain customers." CEO Bruce Walicek adds TV segment customers are "moderating and managing their inventories a little more carefully just going into the end of the year."
- The SoC Pixelworks has been creating for large-screen applications through a co-development agreement "ramped into high-volume production," and is expected to "drive significant year-on-year growth in 2015" for Pixelworks' large-screen chip business. The first chip for the company's Iris mobile video processor line began sampling.
- Gross margin fell to 50.4% from 51% in Q2 and 61.6% a year ago (a mix shift away from licensing). Q4 GM guidance is at 48%-50%. Opex rose 7% Y/Y to $9.3M; Q4 guidance is at $8.5M-$9.5M.
- Q3 results, PR
Oct. 30, 2014, 4:07 PM
Aug. 1, 2014, 9:29 AM
- Pixwlworks (NASDAQ:PXLW) guided on its Q2 CC (transcript) for Q3 revenue of $16M-$18M and EPS of -$0.11 to $0.00; the sole analyst estimate is for revenue of $18.6M and EPS of $0.07.
- A Roth analyst asked Pixelworks if its Q3 guidance doesn't include any license/royalty revenue (carries higher-margins). CFO Steve Moore admitted "there is not a large amount" included, and noted the company's IP revenue has been historically lumpy.
- CEO Bruce Walicek mentioned Pixelworks began "shipping the mass production version of the advanced SoC for large-screen applications we developed under our co-development partnership" in Q2; some believe Apple is the client.
- He added volume production of the company's PA168 video processor continued, and that samples of its Iris mobile video processor were delivered in June.
- Q2 gross margin was 51%, down from 60.1% in Q1 due to a mix shift towards chip sales, but in-line with guidance. Q3 GM is expected to be in a 49%-52% range.
- Q2 results, PR
Jul. 31, 2014, 4:18 PM
May 9, 2014, 3:52 PM
- Pixelworks (PXLW +7.8%) guided on its Q1 CC (transcript) for Q2 revenue of $14M-$16M and EPS of -$0.11 to breakeven; the sole analyst estimate is for revenue of $13.7M and EPS of -$0.05.
- CEO Bruce Walicek mentioned Pixelworks has received mass-production qualification for an SoC (aimed at large-screen applications) that it has co-developed (previous), and will start sampling a low-power mobile video display processor he declares will be the first to "brings the video quality of large screens to mobile screens."
- Gross margin rose to 60.1% in Q1 from 57.8% in Q4 and 49.7% a year ago - that contributed to the EPS beat. Opex grew 10% Y/Y to $10.4M.
- Q1 results, PR
May 8, 2014, 4:14 PM
Feb. 7, 2014, 5:24 PM
- With shares up strongly from year-ago levels going into its Q4 report, Pixelworks (PXLW -7.5%) sold off in response to a $0.01 EPS miss and somewhat light guidance.
- On its CC (transcript), the video processor developer guided (while citing seasonality) for Q1 revenue of $12M-$14M; the sole analyst covering the company has forecast revenue of $13.8M.
- CEO Bruce Walicek reiterates a major chip co-development project will generate significant revenue in 2H14. A smaller amount of revenue is expected from the project in 1H14.
PXLW vs. ETF Alternatives
Pixelworks Inc designs, develops & markets video & pixel processing semiconductors, intellectual property cores, software & custom ASIC solutions for digital video applications. Itsproducts can be used in a various devices.
Other News & PR