Pixelworks Q4: Advanced TV Up, Digital Projection Down

7 Feb

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Pixelworks, Inc., a provider of video and pixel processing technology,  reported fourth quarter 2011 revenue at $16.8 million, compared to $17.4 million reported in the third quarter of 2011 and $14.1 million in the fourth quarter of 2010. The increase in revenue compared to the year-ago quarter was driven by higher sales of new products and volume shipments for advanced TV. Revenue declined sequentially primarily due to weaker than expected demand in the digital projection market.
“2011 was a year of solid progress for Pixelworks, as we expanded our product lines for both the digital projection and advanced TV markets,” said Bruce Walicek, President and CEO of Pixelworks. “On a year over year basis our new products were up 66% over 2010 and represented 56% of total sales, compared with 31% in the prior year. We look forward to building on the new product momentum and customer traction across all our product lines in 2012, as we continue to deliver leading performance solutions with superior video quality.”

Fourth quarter 2011 revenue was $16.8 million, compared to $17.4 million reported in the third quarter of 2011 and $14.1 million in the fourth quarter of 2010. The increase in revenue compared to the year-ago quarter was driven by higher sales of new products and volume shipments for advanced TV. Revenue declined sequentially primarily due to weaker than expected demand in the digital projection market.
“2011 was a year of solid progress for Pixelworks, as we expanded our product lines for both the digital projection and advanced TV markets,” said Bruce Walicek, President and CEO of Pixelworks. “On a year over year basis our new products were up 66% over 2010 and represented 56% of total sales, compared with 31% in the prior year. We look forward to building on the new product momentum and customer traction across all our product lines in 2012, as we continue to deliver leading performance solutions with superior video quality.”

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