Have an eye on Pixelworks, Inc. (NASDAQ:PXLW)

On 23 Aug 2k19, Shares of Pixelworks, Inc. (NASDAQ:PXLW) stock showed the downward by -3.98% with closing price of $3.1400 during the normal trading session on Friday and reaching a high of $3.3000. The PXLW stock had a low trading volume of 188,151 shares on that day, which is compared to the average daily volume of 214,828 shares.

Pixelworks, Inc. (PXLW) recently reported financial results for the 2nd quarter ended June 30, 2k19.

Second Quarter and Recent Highlights

  • Mobile revenue increased 14% and Video Delivery revenue grew 73% year-over-year
  • ASUS released ROG Phone II in conjunction with Tencent Games, as the first smartphone to incorporate Soft Iris solution running on the Qualcomm®Snapdragon™ 855 Plus Mobile Platform
  • TrueCut®Motion Grading Wins Hollywood Professional Association Engineering Excellence Award
  • Black Shark released Shark 2 Pro, its fourth gaming smartphone to incorporate Iris visual processor

Second Quarter 2019 Financial Results

Revenue in the 2nd quarter of 2k19 was $18.0M, contrast to $16.6M in the first quarter of 2k19 and $19.3M in the 2nd quarter of 2k18. Year-over-year, 2nd quarter revenue reflects continued growth in the Company’s Mobile and Video Delivery businesses, offset by below normal seasonal demand in the Projector market.

On a GAAP basis, gross profit margin in the 2nd quarter of 2k19 was 52.0%, contrast to 50.9% in the first quarter of 2k19 and 49.5% in the 2nd quarter of 2k18. On a non-GAAP basis, 2nd quarter 2k19 gross profit margin was 54.1%, contrast to 53.3% in the first quarter of 2k19 and 52.7% in the 2nd quarter of 2k18.

GAAP operating expenses in the 2nd quarter of 2k19 were $11.7M, contrast to $11.9M in the first quarter of 2k19 and $12.0M in the year-before quarter. Non-GAAP operating expenses in the 2nd quarter of 2k19 were $9.6M, contrast to $10.3M in the first quarter of 2k19 and $10.0M in the year-before quarter.

For the 2nd quarter of 2k19, the Company recorded a GAAP net loss of $2.4M, or ($0.06) per share, contrast to a GAAP net income of $133,000, or $0.00 per diluted share, in the first quarter of 2k19, which included a net gain of $3.9M related to the sale of non-planned patents. The Company recorded a GAAP net loss of $2.4M, or ($0.07) per share, in the 2nd quarter of 2k18.

For the 2nd quarter of 2k19, the Company recorded a non-GAAP net loss of $97,000, or ($0.00) per share, contrast to a non-GAAP net loss of $1.5M, or ($0.04) per share, in the first quarter of 2k19 and non-GAAP net income of $31,000, or $0.00 per diluted share, in the 2nd quarter of 2k18.

Adjusted EBITDA in the 2nd quarter of 2k19 was $1.0M, contrast to ($464,000) in the first quarter of 2k19 and $1.1M in the 2nd quarter of 2k18.

The stock has behind by -45.39% from its 52-week high while it has up by 20.77% from its 52-week low price. Return on assets ratio of the Company was -5.50% and return on equity ratio was -8.00% while its return on investment ratio was -14.60%.

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