Pixelworks (PXLW) Reports In-Line Q3 EPS

October 27, 2016 5:37 PM EDT

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Pixelworks (NASDAQ: PXLW) reported Q3 EPS of ($0.04), in-line with the analyst estimate of ($0.04). Revenue for the quarter came in at $13.7 million versus the consensus estimate of $13.52 million.

President and CEO of Pixelworks, Todd DeBonis, commented, “Third quarter revenue and earnings per share were both at the high-end of our guidance, reflecting continued sequential improvement across our business. Our projector business benefited from increased traction throughout the quarter as order patterns from OEMs and distributors began to normalize following the channel disruptions experienced earlier this year. In our mobile business, we are now sampling our 3rd generation IRIS processor at key smartphone and tablet customers, which in addition to having a smaller footprint and improved power consumption also enables OEMs to differentiate their devices with a superior mobile viewing experience. I’m also pleased to announce the appointment of Ting Xiong as Pixelworks’ senior VP of worldwide sales, who will be based in China and most recently headed the APAC sales organization at Qorvo’s IDP group. Ting fills-out our sales footprint and combined with other additions to the team earlier in the year gives us broad sales coverage across all of the key mobile markets in Asia.”

For earnings history and earnings-related data on Pixelworks (PXLW) click here.

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