Pixelworks reports Q1 non-GAAP EPS (7c), consensus (7c)

Reports Q1 revenue $16.1M, consensus $16M. “Q1 revenue was slightly above the midpoint of guidance and reflected the anticipated March quarter seasonality following our record mobile revenue in the fourth quarter,” stated Todd DeBonis, President and CEO of Pixelworks. “Year-over-year, mobile revenue was up almost 3x and represented a record 61% of total revenue for the quarter. Additionally, gross margin expanded nearly 600 basis points sequentially, which together with well managed operating expenses, resulted in minimal cash used from operations during the Q1.”