Pixelworks Loss Narrower Than Estimates

(RTTNews) - Pixelworks Inc (PXLW), a provider of video display processing technology, on Thursday reported fourth-quarter net loss of $2.8 million or $0.12 per share compared with a loss of $50 thousand last year.

Excluding items, adjusted loss for the quarter was $0.06 per share compared with a profit of $0.05 per share a year ago.

Revenues for the quarter were $15.1 million compared with $14.98 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.09 per share on revenues of $15.06 million for the quarter. Analysts' estimates typically exclude special items.

Total operating expenses for the quarter increased to $10.2 million from $8.3 million last year, the company said.

Adjusted gross margin for the quarter fell to 50.3% from 57.8% last year.

CEO Bruce Walicek said, "As we look to 2015, we expect another year of significant growth in our core business supported by exceptional interest in Pixelworks' technology for video processing across various applications and display sizes."