Pixelworks Inc. (PXLW) reported a reduced loss for the first quarter, aligning with Street estimates.
The company posted a net loss of $5.07 million, or $0.09 per share, compared to a net loss of $9.40 million, or $0.17 per share, in the same quarter last year.
Excluding special items, Pixelworks reported an adjusted net loss of $3.99 million, or $0.07 per share, which met analysts' expectations, based on figures compiled by Thomson Reuters.
Revenue for the quarter increased by 61.0%, rising to $16.05 million from $9.97 million in the previous year.
Key first-quarter earnings details (GAAP):
- Net Loss: $5.07 million, compared to $9.40 million last year.
- EPS: -$0.09, compared to -$0.17 last year.
- Revenue: $16.05 million, compared to $9.97 million last year.
