PR Newswire: Pixelplus announced financial results for the Q3 2010, which ended on September 30, 2010.
The quarterly net income was $1.4M, compared to a net income of $600K in Q2 2010, and a net income of $150K in Q3 2009. The gross margin was 40.5%, compared to 33.6% in Q2 2010. The company's increase in gross margin was mainly due to its sales of high margin-driven products.
The revenue for the quarter was $6.1M, compared to $6.0M in Q2 2010, and $3.1M in Q3 2009.
"The key to our consistent growth and success will be our ability to transform our organization to achieve long-term profitability. For this aim, I believe our strategic and ongoing cost-control measures should help us decrease our cash requirements, concentrate on our core business, maintain our continuity, and improve the efficiency of our operations," said Dr. S.K. Lee, CEO and Founder of Pixelplus, "We continue to dedicate all of our efforts and energies on achieving our long-term growth targets and business strategies through developing new products, entering new markets, and securing new design wins."
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