Revenue during the quarter went down marginally by 1.61 percent to $13.36 million from $13.58 million in the previous year period. Gross margin for the quarter expanded 402 basis points over the previous year period to 54.97 percent. Operating margin for the quarter period stood at positive 2.84 percent as compared to a negative 2.19 percent for the previous year period.

Operating income for the quarter was $0.38 million, compared with an operating loss of $0.30 million in the previous year period.

Lee-Lean Shu, Chairman and Chief Executive Officer, noted "Our net revenues came in within the range of guidance that we had provided earlier in the second quarter, and for the second consecutive quarter we were profitable at both the operating income and net income levels. As in recent previous quarters, our gross margin came in well above our operating model at 55.0%, driven by a continuing very favorable mix of higher margin products. That said, during the second quarter, we continued to see slowness in our primary telecommunications and networking markets along with continued weak sales in Asia and Europe. We remain focused on expanding our market position in the high speed SRAM and low-latency DRAM segments and developing new products based on our associative computing technology and intellectual property, obtained in our acquisition of MikaMona last year, to exploit large potential opportunities in big data, computer vision and cyber security. With improving prospects for ongoing profitability, promising new products under development, and a much expanded market opportunity, we are optimistic about the balance of fiscal 2017."

For the third-quarter, GSI Technology, Inc projects revenue to be in the range of $12.60 million to $13.60 million.

Days sales outstanding went up to 63 days for the quarter compared with 53 days for the same period last year.

Days inventory outstanding has decreased to 69 days for the quarter compared with 120 days for the previous year period.