QuickLogic (QUIK) Reports Q3 Loss, Tops Revenue Estimates

Company Performance - QuickLogic reported a quarterly loss of $0.06 per share, compared to the Zacks Consensus Estimate of a loss of $0.05, and a decline from earnings of $0.13 per share a year ago [1] - The quarterly report represents an earnings surprise of -20%, with a previous quarter's expectation of earnings at $0.01 per share, but the company reported a loss of $0.05, resulting in a surprise of -600% [2] - The company posted revenues of $4.27 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.74%, but down from $6.67 million in the same quarter last year [3] Stock Performance - QuickLogic shares have declined approximately 42.1% since the beginning of the year, while the S&P 500 has gained 25.7% [4] - The current Zacks Rank for QuickLogic is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [7] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.34 on revenues of $10.1 million, and for the current fiscal year, it is $0.35 on revenues of $24.4 million [8] - The outlook for the Electronics - Semiconductors industry, where QuickLogic operates, is currently in the bottom 39% of over 250 Zacks industries, which may impact the stock's performance [9]