Pixelworks Inc. announced unaudited consolidated financial results for the third quarter and nine months ended September 30, 2009. On a GAAP basis, the Company recorded net loss of $0.9 million, or $0.07 per basic and diluted share in the third quarter of 2009, compared to net income of $8.2 million, or $0.56 per diluted share in the third quarter of 2008. On a non-GAAP basis, net income was $0.1 million, or $0.01 per basic and diluted share in the third quarter of 2009, compared to net income of $0.7 million, or $0.05 per basic and diluted share in the third quarter of 2008. The company reported loss from operations of $0.644 million and loss before income taxes of $0.734 million compared to income from operations of $0.441 million and income before income taxes of $8.533 million for the same period of last year. Third quarter 2009 revenue was $16.7 million. Revenue for the third quarter was down 22% from $21.5 million in the third quarter of 2008. For the nine months, on a GAAP basis, the Company recorded net income of $7.226 million, or $0.53 per diluted share on revenue of $41.725 million compared to net income of $13.102 million, or $0.89 per diluted share on revenue of $66.248 million in the same period of 2008. On a non-GAAP basis, net loss was $2.749 million, or $0.21 per basic and diluted share in the nine months of 2009, compared to net income of $4.444 million, or $0.30 per basic and diluted share in the same period of 2008. The company reported loss from operations of $6.337 million and income before income taxes of $6.123 million compared to loss from operations of $1.496 million and income before income taxes of $12.154 million for the same period of last year. The Company expects to record GAAP net income per share in the fourth quarter of 2009 of $0.01 to loss of $0.24, and revenues of $17 million to $19 million.

Pixelworks Inc., Q3 2009 Earnings Call, Oct 20 2009

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