Pixelworks (PXLW) Tops Q3 EPS by 5c, Beats on Revenues; Q4 Revenue Mid-Point Guidance Below Consensus

Pixelworks (NASDAQ: PXLW) reported Q3 EPS of $0.03, $0.05 better than the analyst estimate of ($0.02). Revenue for the quarter came in at $18.8 million versus the consensus estimate of $18.53 million.

Business Outlook

Pixelworks’ expects revenue to be between $17.5 million and $18.5 million for the fourth quarter of 2017. Additional guidance will be provided as part of the earnings conference call.

Third Quarter and Recent Highlights

• Revenue of $18.8 million, included $2 million contribution from ViXS Systems
• Initiated sampling of 4th generation Iris processor to targeted mobile OEMs
• Streamlined organization expected to generate $4.0 million in annualized cost synergies beginning in the fourth quarter of 2017

GUIDANCE:

Pixelworks sees Q4 2017 revenue of $17.5-18.5 million, versus the consensus of $17.63 million.

For earnings history and earnings-related data on Pixelworks (PXLW) click here.

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