GSI Technology Inc. Announces Earnings Results for the Third Quarter Ended December 31, 2015; Provides Earnings Guidance for the Fourth Quarter of Fiscal 2016
January 28, 2016 at 09:28 pm
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GSI Technology Inc. announced unaudited consolidated earnings results for third quarter and nine months ended Dec. 31, 2015. For the quarter, the company reported net revenues of $12,921,000, operating loss of $1,560,000, loss before income taxes of $1,471,000, net loss of $819,000 or $0.04 per basic and diluted share compared to the net revenues of $14,227,000, operating loss of $654,000, loss before income taxes of $553,000, net income of $148,000 or $0.01 per basic and diluted share for the same quarter a year ago.
For the nine months period, the company reported net revenues of $40,523,000, operating loss of $2,865,000, loss before income taxes of $2,681,000, net loss of $2,083,000 or $0.09 per basic and diluted share compared to the net revenues of $40,435,000, operating loss of $3,164,000, loss before income taxes of $2,880,000, net loss of $2,248,000 or $0.09 per basic and diluted share for the same period a year ago.
For the fiscal fourth quarter of 2016, the company expected revenues to be in the range of $12.2 million to $13.2 million and gross margin of approximately 48% to 50%.
GSI Technology, Inc. is a provider of high-performance semiconductor memory solutions for in-place associative computing applications in markets, such as artificial intelligence and high-performance computing, including natural language processing and computer vision. Its associative processing unit (APU) products are focused on applications using similarity search. Its similarity search is used in visual search queries for ecommerce, computer vision, drug discovery, cyber security and service markets such as NoSQL, Elasticsearch, and OpenSearch. It operates in one segment: the design, development and sale of integrated circuits. It designs, develops and markets static random-access memory (SRAM). It offers four families of high-speed synchronous SRAM: SyncBurst, NBT, SigmaQuad, and SigmaDDR. It is also engaged in marketing radiation-hardened (RadHard) and radiation-tolerant (RadTolerant) SRAMs for military/defense and aerospace applications, such as networking satellites and missiles.
GSI Technology Inc. Announces Earnings Results for the Third Quarter Ended December 31, 2015; Provides Earnings Guidance for the Fourth Quarter of Fiscal 2016