O2Micro International Limited (OIIM) swung to a net profit for the quarter ended Dec. 31, 2016. The company has made a net profit of $0.01 million in the quarter, against a net loss of $12.80 million in the last year period. Revenue during the quarter grew 18.91 percent to $15.91 million from $13.38 million in the previous year period. Gross margin for the quarter expanded 370 basis points over the previous year period to 54.10 percent. Operating margin for the quarter stood at negative 2.37 percent as compared to a negative 34.07 percent for the previous year period.
Operating loss for the quarter was $0.38 million, compared with an operating loss of $4.56 million in the previous year period.
“Fourth quarter 2016 financial results were within the range of the improved guidance that we provided on January 4th as we continue to focus on our business objectives,” said Sterling Du, O2Micro’s chairman and chief executive officer. “Our Q1 2017 revenue guidance reflects design ramp ups and seasonality expectations along with Inventory related corrections. Our high potential growth drivers for the consumer and industrial end markets will continue to be in Television/Monitor backlighting, power tools, household appliances, LED lighting, and smartphones. Our customers have responded favorably to our product lines and we expect these products will lead us back to profitability and long term shareholder value.”
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