quicklogic corp (QUIK) Key Developments
QuickLogic Corporation Elects Andy Pease to the Global Semiconductor Alliance Board of Directors
Mar 23 15
QuickLogic Corporation announced that Andy Pease has been elected to the Global Semiconductor Alliance board of directors for a three-year term. The GSA board sets the organization's general direction, decides matters of overall policy and reviews GSA activities. Mr. Pease brings his breadth of experience as an executive and leader in both large and small semiconductor companies which produce software as well as silicon devices, IP, and services. These companies include Vantis, where he was Vice President of Worldwide Sales prior to its acquisition by Lattice Semiconductor; Broadcom, where he was Senior Vice President of Worldwide Sales; and QuickLogic, where he is now President and CEO.
QuickLogic Corporation Expands its SenseMe Software Library for Smartphone and Wearable Applications
Mar 10 15
QuickLogic Corporation announced the addition of several new algorithms to its SenseMe Sensor Algorithm Library. When coupled with QuickLogic's sensor hub silicon platforms and reference designs, the SenseMe algorithms enable designers of smartphone and wearable devices to expand the capabilities and features of their devices, dramatically shorten design time while lowering risk, and improve battery life and data accuracy. QuickLogic's SenseMe algorithm library now includes new algorithms for low latency context determination of when the user is in a car or on a bicycle, and fitness/wellness tracking capabilities for on-demand Heart Rate Monitoring (HRM), advanced pedometer functions, and sleep analysis. The advanced pedometer provides step counting for slow cadence, normal walking, and fast walking as well as running; while the sleep analysis algorithm furnishes information on light sleep, deep sleep, and awake modes. QuickLogic's SenseMe algorithms allow smartphone and wearable design teams to easily interpret data from a wide range of sensors including inertial, magnetic, biological, proximity and light sensors to determine the user's activity status and context. The ArcticLink 3 S2 and SenseMe algorithms are fully compatible with the Android OS including KitKat 4.4, Lollipop 5.0, and RTOS-based systems. QuickLogic provides standard Android drivers to facilitate quick and seamless integration. The ArcticLink 3 S2 platform can be easily customized to suit unique customer requirements through QuickLogic's Integrated Development Environment (IDE) and reference designs. Development of differentiated products can be quickly accomplished using the IDE for incorporation of QuickLogic's extensive software offerings, customer developed algorithms, third party algorithms or any combination of the three.
QuickLogic Corporation Presents at 27th Annual ROTH Conference, Mar-09-2015 09:00 AM
Feb 13 15
QuickLogic Corporation Presents at 27th Annual ROTH Conference, Mar-09-2015 09:00 AM. Venue: The Ritz Carlton, 1 Ritz Carlton Dr, Dana Point, CA 92629, United States. Speakers: Andy Pease.
Telepathy Japan Inc. Selects QuickLogic Corporation's ArcticLink 3 S2 Sensor Hub for its Telepathy Jumper Wearable Device
Feb 11 15
QuickLogic Corporation announced that Telepathy Japan Inc. selected the ArcticLink 3 S2 Sensor Hub for its Telepathy Jumper wearable device. The ArcticLink 3 S2 solution was selected for its ability to deliver always-on, always-aware capabilities while consuming only 150uW of power, and QuickLogic's unique and highly accurate SenseMe software algorithms that are bundled with the device. The Telepathy Jumper is an innovative device with a display unit worn in front of the eye. It is designed for consumer and enterprise applications and comes with two software apps, "Eye Connect" and "Talent Buzz." Eye Connect allows easy one-click sharing, between Jumper users, of each other's field of vision. Talent Buzz makes it possible for users to offer knowledge, experiences and skills to one another.
QuickLogic Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Fiscal Year Ended December 28, 2014; Provides Financial Guidance for the First Quarter of 2015
Feb 4 15
QuickLogic Corporation announced unaudited consolidated earnings results for the fourth quarter and fiscal year ended December 28, 2014. Total revenue for the fourth quarter of 2014 was $5.7 million, representing an increase of 39% compared to $4.1 million in the third quarter of 2014, compared to $8.863 million a year ago period. New product revenue for the fourth quarter of 2014 was $3.7 million, an increase of 68% compared to $2.2 million in the third quarter of 2014. Under generally accepted accounting principles in the United States of America (GAAP), the net loss for the fourth quarter of 2014 was $4.1 million, or $0.07 per share, compared with a net loss of $3.9 million, or $0.07 per share, in the third quarter of 2014 and a net loss of $3.2 million, or $0.06 per share, in the fourth quarter of 2013. Non-GAAP net loss for the fourth quarter of 2014 was $3.7 million, or $0.06 per share, compared with a non-GAAP net loss of $3.5 million, or $0.06 per share, in the third quarter of 2014 and a non-GAAP net loss of $2.2 million, or $0.04 per share, in the fourth quarter of 2013. Loss from operations was $3.991 million against $3.059 million a year ago. Loss before income taxes was $4.056 million against $3.103 million a year ago. Non-GAAP loss from operations was $3.499 million against $2.054 million a year ago.
Total revenue for 2014 was up 7% at $27.8 million, compared with total revenue of $26 million in 2013. In 2014, new product revenue was up 6% at $19.3 million, compared with new product revenue of $18.2 million in 2013. GAAP net loss for 2014 was $13.1 million, or $0.23 per share, compared with a net loss of $12.3 million, or $0.27 per share, in 2013. Non-GAAP net loss for 2014 was $10.8 million, or $0.19 per share, compared with a non-GAAP net loss of $9.9 million, or $0.22 per share, in 2013. Loss from operations was $12.800 million against $11.791 million a year ago. Loss before income taxes was $13.011 million against $11.821 million a year ago. Non-GAAP loss from operations was $10.553 million against $9.535 million a year ago.
For the first quarter of 2015, the company is forecasting total revenue of approximately $5.7 million, plus or minus 10%. The $5.7 million in total revenue is expected to be comprised of approximately $3.7 million of new product revenue and $2 million of mature product revenue. On a non-GAAP basis, the company expects gross margin to be approximately 42%, plus or minus 3%. The expected sequential improvement in the non-GAAP gross margin is driven by the forecasted product mix. The company is currently forecasting non-GAAP operating expenses to be $6.1 million, plus or minus $300,000. Non-GAAP R&D expenses are forecasted to be approximately $3.7 million. The increase in engineering expenses is due to outside service costs related to new chip development and new hires within the engineering organization. Non-GAAP SG&A expenses are forecasted to be approximately $2.4 million. At the midpoint of its guidance, non-GAAP loss is expected to be approximately $0.07 per share.