QuickLogic Corporation (NASDAQ:QUIK) Results Continue To Have A Impact

Posted by Chris Bell March 13, 2014 0 Comment 645 views

QuickLogic Corporation (NASDAQ:QUIK) reported is 4Q and full year 2013 operation results to SEC in a mandatory filing on 6th March. It recorded a dip in revenue sequentially, for the quarter sequentially to $8.8 million in 4Q as against $9.06 million in 3Q. Overall gross profits also dipped for the quarter to $2.7 million in 4Q as against $3 million in 3Q13. On the contrary, its quarter spending on R&D saw a increase to $2.4 million as against $2 million in 3Q13.Over all expenses ballooned to $3.05 million as against $2.19 million in 3Q13. Over all its net losses from continuing operations had gone up to $3.1 million after registering a dip to $2.2 million in 3Q13.

Full Year Operations Update

For full year operations in 2013, the company reported total revenue of $26.1 million which translates into a 74% increase in comparison to its FY12. For the full year, saw a big jump in revenue from its new products which grew at a impressive 208 percent in comparison to 2012. The revenue the company accrued from its older products actually saw a 13 percent dip for the quarter, indicating a truncated product life cycle for its products and the need to keep investing in R&D to keep its product bucket fresh and appealing to its customers. The key market segments that the company benefited from in terms of revenue were “Smartphones, Mobile enterprise and tablets”.

R&D Cost Analysis

Company officials in their attempts to explain the increase in the cost of R&D during the reporting period have gone on to explain that “Research and development expense was $8.4 million and $8.7 million in 2013 and 2012, respectively, which represented 32% and 59% of revenue for those periods. The $368,000 decrease in R&D expenses in 2013 as compared to 2012 is attributable primarily to a $1.6 million decrease in outside services due to a reduction in third-party chip design costs.”

About Chris Bell

Chris Bell is an investing reporter for GDP Insider. Chris covers financial markets and Wall Street, concentrating on developments affecting individual investors and their portfolios. Chris is also over consumer reporter and covers a wide variety of issues ranging from housing to immigration to urban poverty. Chris graduated from the University of Scranton with a degree in Communication and Philosophy. Chris's diligent investigations earned him the honor of being named "Best Reporter" once by the Headliners Foundation of Texas and once by the Houston Press Club.

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