QuickLogic CEO Discusses Q3 2010 Results – Earnings Call Transcript
I’ll rejoin you in a few minutes to discuss our guidance for the fourth quarter, but first Tom will update you on the status of our strategic efforts. Tom?
Yeah. Thanks, Ralph. Well, by every measure, it’s been a year of tremendous progress here at QuickLogic. Q3 2010 total revenue was up 13% sequentially and 120% year-over-year. With this growth, we’ve returned to GAAP profitability, positive cash flow and exited the quarter with 19.2 million in cash.
In addition to these tangible accomplishments, we’ve made significant strategic progress with our customer-specific standard products or CSSPs that we believe will fuel our growth and profitability during the coming year. I’ll cover this progress in a few minutes, but first, let’s take time to evaluate our near term industry events are impacting QuickLogic.As you’ve undoubtedly heard from many semiconductor companies that have already reported calendar Q3 results, short-term visibility has been reduced and in many cases, there is some degree if inventory rebalancing expected to occur during Q4. Because we’ve been able to maintain short and dependable lead times for our legacy products throughout 2010, we’re not anticipating any material impact from inventory rebalancing. Even though Q4 is normally a seasonally soft quarter for the industry sectors we serve with our legacy products, we expect sales for these products to be flat to Q3. We’re also forecasting flat new product revenue in Q4. Read the rest of this transcript for free on seekingalpha.com
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV