MoSys, Inc. (MOSY) saw its loss narrow to $4.40 million, or $0.66 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $6.86 million, or $1.05 a share. On the other hand, adjusted net loss for the quarter narrowed to $4.19 million, or $0.63 a share from a loss of $5.56 million or $0.85 a share, a year ago.

Revenue during the quarter dropped 16.47 percent to $1.21 million from $1.45 million in the previous year period. Gross margin for the quarter expanded 981 basis points over the previous year period to 50.33 percent.

Operating loss for the quarter was $4.19 million, compared with an operating loss of $6.84 million in the previous year period.

"First quarter 2017 product revenue was primarily comprised of ongoing shipments of our Bandwidth Engine 2 ICs, with the majority of those shipments to our lead IP security appliance customer. We have a reliable volume forecast from this customer for the remainder of this year, and are working to confirm order commitments from our other top customers," commented Len Perham, MoSys' president and chief executive officer. "During the first quarter, we won our first Bandwidth Engine 3 design-in with a leading networking equipment supplier in China, and received our first pre-production order from this customer. We also secured additional Bandwidth Engine 2 design-ins with multiple customers for next-generation video applications."