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QuickLogic Reports Fiscal 2020 Second Quarter Results
SAN JOSE, Calif., Aug. 5, 2020 /PRNewswire/ -- QuickLogic Corporation (NASDAQ: QUIK) ("QuickLogic" or the "Company"), a developer of ultra-low power
About this update from Quicklogic Corporation
[{"type":"text","content":"SAN JOSE, Calif., Aug. 5, 2020 /PRNewswire/ -- QuickLogic Corporation (NASDAQ: QUIK) (\"QuickLogic\" or the \"Company\"), a developer of ultra-low power multi-core voice enabled SoCs, embedded FPGA IP, and Endpoint AI solutions, today announced its financial results for the second quarter of fiscal 2020, ended June 28, 2020.\n\n \n \n \n \n \n \n\n \nRecent Highlights\nQuickLogic Announced its new Open Reconfigurable Computing Initiative SensiML Uses AI Technology to Help Fight COVID-19 Global Pandemic Completed over-subscribed public offering of common stock, raising approximately $8.1 million in net proceeds QuickLogic Added to the Russell Microcap IndexFiscal 2020 Second Quarter Financial Results Total revenue for the second quarter of 2020 was $2.2 million, an increase of 2% compared with the first quarter of 2020, and 5% compared with the second quarter of 2019. New product revenue was $0.8 million in the second quarter of 2020, an increase of 69% compared with the first quarter of 2020, and 15% compared with the second quarter of 2019. This sequential and year over year increase was primarily due to higher sales of EOS S3 product. Mature product revenue was $1.4 million in the second quarter of 2020, down 18% compared with the first quarter of 2020, and flat compared with the second quarter of 2019.\nSecond quarter 2020 GAAP gross margin was 45.7%, compared with 51.7% in the first quarter of 2020, and 49.0% in the second quarter of 2019.\nSecond quarter 2020 non-GAAP gross margin was 47.1%, compared with 52.2% in the first quarter of 2020 and 49.8% in the second quarter of 2019. The lower gross margin in the second quarter 2020 was primarily due to a higher percentage of products shipped into the smartphone market. \nSecond quarter 2020 GAAP operating expenses were $3.9 million, improved from $4.2 million in the first quarter of 2020, and $5.6 million in the second quarter of 2019. \nSecond quarter 2020 non-GAAP operating expenses were $3.2 million, improved from $4.1 million in the first quarter of 2020, and from $4.8 million in the second quarter of 2019.\nSecond quarter 2020 GAAP net loss was $3.0 million, or $0.35 per share, compared with a net loss of $3.2 million, or $0.38 per share, in the first quarter of 2020, and a net loss of $4.6 million, or $0.65 per share, in the second quarter of 2019. \nSecond quarter 2020 ...