Quicklogic Corp (QUIK) Misses Q1 EPS by 5c, Revenues Miss

Quicklogic Corp (NASDAQ: QUIK) reported Q1 EPS of ($0.12), $0.05 worse than the analyst estimate of ($0.07). Revenue for the quarter came in at $2.2 million versus the consensus estimate of $2.5 million.

Total revenue for the first quarter of fiscal 2021 was $2.2 million, a decrease of 10% compared with the fourth quarter of 2020, and an increase of 4% compared with the first quarter of 2020. New product revenue was approximately $1.1 million in the first quarter of 2021, an increase of 28% compared with the fourth quarter of 2020, and an increase of 121% compared with the first quarter of 2020. The increases were primarily due to higher revenue from our sensor processing and connectivity products. Mature product revenue was $1.2 million in the first quarter of 2021, down 30% compared with fourth quarter of 2020, and down 30% compared with the first quarter of 2020.

For earnings history and earnings-related data on Quicklogic Corp (QUIK) click here.

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