PXLW ( $21.74-->$24.75) results beat expectations 8c vs 7c
TUALATIN, Ore., July 17 (Reuters) - Visual display
component maker Pixelworks Inc. <PXLW.O> on Tuesday said its
earnings, excluding a range of costs, rose nearly three-fold,
driven by strong sales of its flat-panel monitors.
The Tualatin, Oregon-based company said its pro forma
earnings, which exclude amortization of goodwill expenses and
other costs, rose to $3.5 million, or 8 cents per share, from
$1.2 million, or 3 cents per share, a year earlier. Analysts
had been looking for earnings of 7 cents per share, according
to research firm Thomson Financial/First Call.
Including all costs, the company reported a net loss of
$3.4 million, or 8 cents per share.
Revenues for the quarter ended June 30 increased almost 88
percent to $22.7 million from $12.1 million. Gross margins were
at about 47 percent from 38 percent for the year-ago quarter.
The company expects third-quarter revenue to rise by as
much as 67 percent from a year ago to be between $24.5 million
and $25.5 million.
((Anupama Chandrasekaran, New York Newsroom, 646-223-6000))
REUTERS
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