NEW YORK (TheStreet) -- Shares of QuickLogic Corp. (QUIK) - Get Report fell more than 25% to a 52-week low of $2.06 today, closing at $2.19, after the company reported a 2014 fourth quarter net loss yesterday of $3.7 million, or a net loss of 6 cents per share, on revenue of $5.7 million.
This compared with a net loss of $3.5 million, or net loss of 6 cents per share, in the previous quarter and a net loss of $2.2 million, or loss of 4 cents per share, in the fourth quarter a year ago.
Non-GAAP net loss for 2014 was $10.8 million, or a loss of 19 cents per share, compared with a non-GAAP net loss of $9.9 million, or a loss of 22 cents per share in 2013.
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Additionally, the company said on its earnings call to investors that the most likely time frame for profitability would not be until 2016.
Furthermore, the company said that the current year will prove to be "more challenging" in terms of generating "significant" year-over-year new product revenue growth due in part to two main events: a decrease in tablet sales forecast and a discrete field-programmable gate array fabrication opportunity with a tier one customer becoming a "non-opportunity."
Quicklogic develops and markets semiconductor solutions.