UniPixel (UNXL) Misses Q1 EPS by 9c

UniPixel (NASDAQ: UNXL) reported Q1 EPS of ($0.24), $0.09 worse than the analyst estimate of ($0.15). Revenue for the quarter came in at $900k versus the consensus estimate of $1.75 million.

Jeffrey A. Hawthorne, president and chief executive officer of UniPixel, said, "The first quarter of 2016 marks an important transformational point in the history of UniPixel. One year ago, UniPixel was a pre-production company with no orders or revenue. During the past year we made a key acquisition, expanded our management with highly experienced technology executives and leveraged our acquired technology and manufacturing capabilities. Over the past nine months we introduced our products to many of the world's Tier 1 PC manufacturers, had those products tested and evaluated, and announced 14 design wins since the beginning of the calendar year. We have made important and substantial progress in a short period of time in both expanding our customer base and continuously upgrading our manufacturing process."

"Our products are significantly differentiated from those that are currently in wide adoption," continued Mr. Hawthorne. "We see evidence that the market is shifting in favor of metal mesh, which is our technology base, as consumers are demanding devices that are thinner, lighter, faster with highly responsive touchscreens and advanced stylus capabilities, all of which are optimized with metal mesh technology. Our copper wire mesh touchscreen sensors and the ability to replace other materials in touchscreen module assemblies enable PC manufacturers to create products with those critically important attributes and uniquely positions UniPixel for growth in the coming years. Our recent program wins reflect the advantage of our unique technology and our creativity in designing real-world solutions for the next generation of computing devices."

Mr. Hawthorne concluded, "Looking ahead, the 14 design wins we have announced since January 2016 will move through the standard qualification process and into production during the second half of calendar year 2016 and early 2017. Our focus is to successfully execute on these programs, leverage off of these programs with our industry leading customers for additional wins, and drive our technology roadmap to expand our product offerings. We are very pleased with the sales and marketing results of the first quarter and look toward the rest of the year with great anticipation."

For earnings history and earnings-related data on UniPixel (UNXL) click here.

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