Thursday, July 31, 2008

Pixelplus Reports Q2'08 Results

Yahoo: Pixelplus sold approximately 7.1M sensors in Q2 2008, which represents an increase of about 2.8 million units from its sale of around 4.3M units in Q1 2008. Separately, Pixelplus provided approximately 1.1M image sensors arising from its supply of services to a leading Japanese module maker in Q2 2008, which is almost the same as its supply of around 1.1 million units in Q1 2008.

Gross margin for the second quarter of fiscal 2008 was 4.9%, compared to 11.5% in the first quarter of fiscal 2008. The Company's lower-than-expected gross margin was due to its greater-than-anticipated decrease in the total number of VGA image sensors sold in the second quarter of 2008, and also was due to its greater-than-expected decrease in the average selling price of its image sensors sold in the second quarter of 2008. To improve gross margin in the second half of 2008, the Company expects to enhance production yields for its PlusPixel2 products with its foundry partner in Taiwan , and also fortify its revenues arising from the steadily increasing supply of its PO4010 CIF SoC, PO6030 VGA SoC, and PC1030 NTSC/PAL image sensors.

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