Thursday, October 30, 2008

Pixelplus Q3 2008 Results

Yahoo: Pixelplus revenue for the Q3 of 2008 was $3.7M, compared to $3.1M in Q2 2008, and $3.9M in Q3 2007. Net loss in Q3 2008 was $2.9M, compared to a net loss of $2.3M in Q2 2008, and a net loss of $1.2M in Q3 2007. Gross margin for Q3 2008 was 15.3%, compared to 4.9% in Q2 2008.

The company sold approximately 7.4M image sensors in Q3 2008, which represents an increase of about 0.3M units from its sale of around 7.1M units in Q2 2008.

Pixelplus CEO and President S.K. Lee says: "The economic slowdown in China had a negative impact on our business in the third quarter, and this impact was much greater and broader than we had ever imagined. In response to the unprecedented financial turmoil arising from the Global Financial Crisis and the severe economic burden this has placed on the Asian economies, we continue to adapt to unfavorable market conditions."

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