PXLW ( $21 - $24)results beat expectations
TUALATIN, Ore., July 17 (Reuters) - Visual display component maker Pixelworks Inc. (NasdaqNM:PXLW - news) 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. |
