Business
QuickLogic Reports Fiscal 2020 Third Quarter Results
SAN JOSE, Calif., Nov. 4, 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., Nov. 4, 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 third quarter of fiscal 2020, ended September 27, 2020.\n\n \n \n \n \n \n \n\n \nRecent Highlights\nSensiML now supports QuickLogic's QuickFeather IoT Development Kit SensiML Analytics Toolkit seamlessly integrated with Google's TensorFlow Lite for Microcontrollers SensiML supports AI-based algorithms running on SensorTile Box IoT kit from STMicroelectronics QuickLogic joined CHIPS Alliance to expand open source FPGA initiative and to make FPGA tools more accessible QuickLogic became a member of OpenHW Group to make hardware-based IP available to the open source ecosystem SensiML joined the ARM AI Partner Program to simplify the deployment of Machine Learning (ML) and AI on intelligent endpoint devices QuickLogic announced the availability of eFPGA technology on 28nm FD-SOI process and also became a member of the Samsung SAFE™ IP Partner ProgramFiscal 2020 Third Quarter Financial Results\nTotal revenue for the third quarter of 2020 was $1.8 million, a decrease of 19% compared with the second quarter of 2020, and 18% compared with the third quarter of 2019. New product revenue was $0.7 million in the third quarter of 2020, a decrease of 22% compared with the second quarter of 2020, and 37% compared with the third quarter of 2019. The decreases were primarily due to lower sales of display bridge and connectivity product revenue. Mature product revenue was $1.1 million in the third quarter of 2020, down 17% compared with the second quarter of 2020, and flat compared with the third quarter of 2019. \nThird quarter 2020 GAAP gross margin was 51.9%, compared with 45.7% in the second quarter of 2020, and 48.2% in the third quarter of 2019.\nThird quarter 2020 non-GAAP gross margin was 53.9%, compared with 47.1% in the second quarter of 2020 and 48.9% in the third quarter of 2019.\nThird quarter 2020 GAAP operating expenses of $3.0 million improved from $3.9 million in the second quarter of 2020, and $5.2 million in the third quarter of 2019.\nThird quarter 2020 non-GAAP operating expenses of $2.6 million improved from $3.2 million in the second quarter of 2020, and...