GSI Technology, Inc. (GSIT) CEO Lee-Lean Shu on Q4 2022 Results - Earnings Call Transcript

May 08, 2022 5:15 AM ETGSI Technology, Inc. (GSIT)
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GSI Technology, Inc. (NASDAQ:GSIT) Q4 2022 Earnings Conference Call May 5, 2022 4:30 PM ET

Company Participants

Lee-Lean Shu - Chairman, President and Chief Executive Officer

Douglas Schirle - Chief Financial Officer

Didier Lasserre - Vice President, Sales

Conference Call Participants

Jeff Bernstein - Cowen

James Poko - Private Investor

Luke Gabeni - Private Investor


Ladies and gentlemen, thank you for standing by, and welcome to the GSI Technology’s Fourth Quarter and Fiscal 2022 Results Conference Call. [Operator Instructions]

Before we begin today’s call, the company has requested that I read the following Safe Harbor statements. The matters discussed in the conference call may include forward-looking statements regarding future events and the future performance of GSI Technology that involve risks and uncertainties that could cause actual results to differ materially from those anticipated. These risks and uncertainties are described in the company’s Form 10-K filed with the Securities and Exchange Commission. Additionally, I have also been asked to advise you that this call is being recorded today, May 5, 2022 at the request of GSI Technology.

Hosting the call today is Lee-Lean Shu, the company’s Chairman, President and Chief Executive Officer. With him are Douglas Schirle, Chief Financial Officer and Didier Lasserre, Vice President of Sales.

I would now like to turn the conference over to Mr. Shu. Please go ahead, sir.

Lee-Lean Shu

Good afternoon and thank you for joining us to review our fiscal fourth quarter and the full year 2022 financial results. Our fourth quarter revenue grew year-over-year by 14%. And for the full fiscal year 2022, revenue increased by 20%. The growth in the quarter was due to new projects, expanded business in all categories and the price increase effective in December 2021.

Gross margin improved in the fourth quarter by 840 basis points year-over-year, reflecting

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