Pixelworks Inc. Q1 Loss Increases, but beats estimates

(RTTNews) - Pixelworks Inc. (PXLW) released Loss for its first quarter that increased from the same period last year and missed the Street estimates.

The company's earnings totaled -$9.40 million, or -$0.17 per share. This compares with -$4.59 million, or -$0.09 per share, in last year's first quarter.

Excluding items, Pixelworks Inc. reported adjusted earnings of -$8.23 million or -$0.15 per share for the period.

Analysts on average had expected the company to earn -$0.16 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 40.0% to $9.97 million from $16.63 million last year.

Pixelworks Inc. earnings at a glance (GAAP) :

-Earnings (Q1): -$9.40 Mln. vs. -$4.59 Mln. last year. -EPS (Q1): -$0.17 vs. -$0.09 last year. -Analyst Estimate: -$0.16 -Revenue (Q1): $9.97 Mln vs. $16.63 Mln last year.