Quicklogic Corporation (QUIK) saw its loss narrow to $3.56 million, or $0.05 a share for the quarter ended Apr. 02, 2017. In the previous year period, the company reported a loss of $5.09 million, or $0.09 a share. On the other hand, adjusted net loss for the quarter narrowed to $3.25 million, or $0.05 a share from a loss of $4.53 million or $0.08 a share, a year ago. Revenue during the quarter grew 7.46 percent to $3.17 million from $2.95 million in the previous year period. Gross margin for the quarter expanded 413 basis points over the previous year period to 43.31 percent.
Operating loss for the quarter was $3.47 million, compared with an operating loss of $4.98 million in the previous year period.
However, the adjusted operating loss for the quarter stood at $3.15 million compared to operating loss of $4.42 million in prior year period.
"With the progress we’ve made so far this year, I remain optimistic that we will achieve our goal to grow revenue by more than 50% in 2017," stated Brian Faith, QuickLogic’s president and chief executive officer. "We have advanced and broadened our engagements with top-tier OEMs that are targeting our EOS S3 Sensor Processing Solution and with top-tier semiconductor companies evaluating our eFPGA IP. With our strengthened balance sheet, we have provided these top-tier OEMs with the assurance we are financially positioned to fund the working capital necessary to support our anticipated second half growth and accelerate our eFPGA IP roadmap to meet the demands of our potential customers."
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