Pixelworks reports Q4 adjusted EPS (7c), consensus (9c)

Reports Q4 revenue $9.1M, consensus $9.5M. “Fourth quarter results reflected our expectations, with all financial metrics being within or better than our guided range,” stated Todd DeBonis, President and CEO of Pixelworks (PXLW). “Revenue from the home and enterprise market increased sequentially and year-over-year, helping to partially offset the anticipated product transition in our mobile business. Gross margin expanded for the fourth consecutive quarter to nearly 55%, and our previously implemented cost reduction actions contributed to achieving meaningfully lower operating expenses for the quarter.”