QuickLogic (QUIK) Reports Q1 Loss, Tops Revenue Estimates

Core Viewpoint - QuickLogic reported a quarterly loss of $0.07 per share, slightly better than the Zacks Consensus Estimate of a loss of $0.08, and a decline from earnings of $0.11 per share a year ago [1] Financial Performance - The company achieved an earnings surprise of 12.50% for the quarter, having previously exceeded expectations by 33.33% in the prior quarter [2] - QuickLogic's revenues for the quarter were $4.33 million, surpassing the Zacks Consensus Estimate by 8.13%, but down from $6.01 million year-over-year [3] - Over the last four quarters, QuickLogic has exceeded consensus revenue estimates two times [3] Stock Performance - QuickLogic shares have declined approximately 43.5% since the beginning of the year, contrasting with the S&P 500's decline of only 0.6% [4] - The current Zacks Rank for QuickLogic is 3 (Hold), indicating expected performance in line with the market in the near future [7] Future Outlook - The consensus EPS estimate for the upcoming quarter is $0.06 on revenues of $6.35 million, and for the current fiscal year, it is $0.16 on revenues of $24.37 million [8] - The Electronics - Semiconductors industry, to which QuickLogic belongs, is currently ranked in the top 39% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [9]