Pixelworks Announces Preliminary Fourth Quarter Financial Results
SAN JOSE, Calif.--(BUSINESS WIRE)--Jan. 10, 2017-- Pixelworks, Inc. (NASDAQ: PXLW), an innovative provider of video display processing technology, today announced preliminary financial results for the fourth quarter of 2016.
For the quarter ended December 31, 2016, revenue is expected to be approximately $16 million, at the high end of the Company’s previous revenue guidance of $15 million to $16 million. The Company also expects to report a profit for the fourth quarter on a fully diluted GAAP basis, compared to previous guidance of a loss of $0.06 per share to breakeven. Additionally, the Company generated cash from operations in the fourth quarter and anticipates a quarter-end cash balance of approximately $19.6 million, net of any borrowing, which is approximately $3 million greater than at the end of the third quarter.
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High Resolution Displays and Moving Images