Pixelworks reports Q1 adjusted EPS (11c), consensus (11c)

Reports Q1 revenue $7.1M, consensus $7.43M. “First quarter results were consistent with our expectations, as revenue reflected anticipated first quarter seasonality in the home and enterprise market, partially offset by an initial recovery and sequential growth in mobile business,” commented Todd DeBonis, President and CEO of Pixelworks (PXLW). “Notably, our reported results demonstrated significant realized benefits from our previous and ongoing actions to streamline our cost structure, with first quarter operating expenses down more than $2 million year-over-year.