Embedded standard products key to revenue growth

Edited by the Electronicstalk editorial team Jul 31, 2003

QuickLogic Corp has published financial results for the second quarter ended 30th June 2003.

QuickLogic Corp has published financial results for the second quarter ended 30th June 2003.

Net revenue for the second quarter of 2003 was $10.6 million, up 27% from net revenue of $8.4 million in the second quarter of 2002, and up 13% sequentially compared with the first quarter of 2003.

ESP products contributed 42% of revenue in the second quarter of 2003.

The net loss for the second quarter was $24,000, or $0.00 per share, compared with a net loss of $3.1 million, or $0.13 per share, in the second quarter of 2002, and compared with a net loss of $1.6 million, or $0.07 per share, in the first quarter of 2003.

Second quarter 2003 results included a $0.7 million gain on the sale of securities.

"Our total year-over-year revenue growth of 27% was driven by a 57% increase in our new products, which includes a 65% growth of embedded standard product revenue", said Tom Hart, Chairman, President and CEO.

"We are very encouraged by the accelerating market acceptance of both our new and embedded standard products".