SAN JOSE, Calif., Jan. 18, 2022 /PRNewswire/ -- QuickLogic
Corporation (NASDAQ: QUIK), a developer of ultra-low power
multi-core voice-enabled SoCs, embedded FPGA IP, and Endpoint AI
solutions, today announced preliminary selected financial results
for its fourth fiscal quarter, ending January 2, 2022.
Global supply chain problems brought on by the COVID-19 pandemic
have created a worldwide shortage of certain display bridge
semiconductor solutions. In recent weeks several of the
world's largest consumer product suppliers have engaged QuickLogic
based on its ability to provide solutions with shorter lead
times. In a separate announcement issued last week,
QuickLogic reiterated that it has off-the-shelf availability of its
ArcticLink® III BX display interface bridging devices
and can fulfill the void in the market. The company has
delivered over 50 million such devices to date.
"Demand for ArcticLink® is strong and we have ample
supply to support current and expected future orders. I
expect the demand trend to last at least through the first half of
fiscal 2022 adding to my confidence that we will achieve the
revenue growth and profitability targets we previously discussed,"
said Brian Faith, chief executive
officer at QuickLogic.
QuickLogic cautions that its anticipated revenue and cash
breakeven results are preliminary, based on the best information
available and are subject to completion of audited financial
statements for its fiscal year 2021.
The Company expects to announce its full financial results for
the fourth quarter and fiscal year 2021 on or about February 16, 2022. Event details will
be announced in a separate news release closer to the earnings
release date.
About QuickLogic
QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor
company that develops low power, multi-core semiconductor platforms
and Intellectual Property (IP) for Artificial Intelligence (AI),
voice and sensor processing. The solutions include embedded FPGA IP
(eFPGA) for hardware acceleration and pre-processing, and
heterogeneous multi-core SoCs that integrate eFPGA with other
processors and peripherals. The Analytics Toolkit from our recently
acquired wholly owned subsidiary, SensiML Corporation, completes
the end-to-end solution with accurate sensor algorithms using AI
technology. The full range of platforms, software tools and eFPGA
IP enables the practical and efficient adoption of AI, voice, and
sensor processing across mobile, wearable, hearable, consumer,
industrial, edge and endpoint IoT. For more information,
visit www.quicklogic.com and https://www.quicklogic.com/blog/.
The QuickLogic logo and QuickLogic are registered trademarks
of QuickLogic Corporation. All other brands or trademarks are the
property of their respective holders and should be treated as
such.
Forward Looking Statements
This press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements include, without limitation,
expectations regarding our future business, and actual results may
differ due to a variety of factors including: delays in the market
acceptance of the Company's new products; the ability to convert
design opportunities into customer revenue; our ability to replace
revenue from end-of-life products; the level and timing of customer
design activity; the market acceptance of our customers' products;
the risk that new orders may not result in future revenue; our
ability to introduce and produce new products based on advanced
wafer technology on a timely basis; our ability to adequately
market the low power, competitive pricing and short time-to-market
of our new products; intense competition by competitors; our
ability to hire and retain qualified personnel; our ability to
capitalize on synergies with our newly acquired subsidiary SensiML
Corporation; changes in product demand or supply; general economic
conditions; political events, international trade disputes, natural
disasters and other business interruptions that could disrupt
supply or delivery of, or demand for, the Company's products; the
unpredictable and ongoing impact of the COVID-19 pandemic; and
changes in tax rates and exposure to additional tax liabilities.
These and other potential factors and uncertainties that could
cause actual results to differ materially from the results
contemplated or implied are described in more detail in the
Company's public reports filed with the Securities and Exchange
Commission (the "SEC"), including the risks discussed in the "Risk
Factors" section in the Company's Annual Reports on Form 10-K,
Quarterly Reports on Form 10-Q and in the Company's prior
press releases, which are available on the Company's Investor
Relations website at http://ir.quicklogic.com/, and on the SEC
website at www.sec.gov. In addition, please note that the date of
this press release is January 18,
2022, and any forward-looking statements contained herein
are based on assumptions that we believe to be reasonable as of
this date. We undertake no obligation to update these statements as
a result of new information or future events.
QuickLogic and logo are registered trademarks of QuickLogic.
All other trademarks are the property of their respective holders
and should be treated as such.
CODE: QUIK-E
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SOURCE QuickLogic Corporation