Dallas, Texas 05/19/2014 (FINANCIALSTRENDS) – QuickLogic Corporation (NASDAQ:QUIK), an innovator of many ultra-low-power and Customer Specific Standard Products has announced its fiscal results for the Q1 that ended 30 March 2014. The total revenue for the Q1 of 2014 was $11.2M, which was in increase of 26% & 270% from the Q4 of 2013 & from the Q1 of 2013, respectively. In the Q1, the new product revenue rose 27% to $8.9M from $7.0M in the Q4 of 2013. The new product revenue attributed for 80% of the total-revenue in the Q1. In the Q1, mature product revenue rose by 24% to $2.2M sequentially.
Mature product revenue attributed for 20% of the company’s total-revenue in the Q1. Under all the generally-accepted accounting principles, net loss for the Q1 of 2014 was $2.1M, or $0.04 / share, in comparison with the net loss of $3.2M, or $0.07/ share, in the Q4 of 2013 and the net loss of $3.6M, or $0.08/ share, in the Q1 of 2013. The Non-GAAP net -loss for the Q1 of 2014 was $1.4M, or $0.03 /share, in comparison to the non GAAP net-loss of $2.2M, or $0.05/ share, in the Q4 of 2013 and the non-GAAP net-loss of $3.1M, or $0.07/ share, in the Q1 of 2013.
What QUIK does
QuickLogic Corporation (NASDAQ:QUIK) develops as well as markets various semiconductor solutions. It designs, markets as well as supports mainly Customer Specific Standard Products & the Field Programmable Gate Arrays as well as associated design-software & programming hardware. Its CSSPs are all customized semi- conductor solutions that are created from the company’s solution platforms. These platforms include ArcticLink III & ArcticLink II, ArcticLink & PolarPro II, PolarPro, & Eclipse II. The company’s mature products mainly include Pasic 3 and QuickRAM as well as QuickPCI, and the royalty revenue, programming-hardware & design software.