$PXLW
Pixelworks Inc

2014 Q3 Form 10-Q Financial Statement

#000104016114000041 Filed on August 08, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2014 Q2 2013 Q2
Revenue $17.11M $15.17M $9.554M
YoY Change 11.77% 58.74% -38.46%
Cost Of Revenue $8.545M $7.505M $4.932M
YoY Change 42.73% 52.17% -37.29%
Gross Profit $8.566M $7.661M $4.622M
YoY Change -8.11% 65.75% -39.65%
Gross Profit Margin 50.06% 50.51% 48.38%
Selling, General & Admin $3.900M $3.709M $3.274M
YoY Change 18.33% 13.29% -13.66%
% of Gross Profit 45.53% 48.41% 70.84%
Research & Development $6.634M $5.887M $6.010M
YoY Change 56.68% -2.05% 27.47%
% of Gross Profit 77.45% 76.84% 130.03%
Depreciation & Amortization $1.130M $1.150M $1.080M
YoY Change 2.73% 6.48% -8.47%
% of Gross Profit 13.19% 15.01% 23.37%
Operating Expenses $10.53M $9.596M $9.284M
YoY Change 39.89% 3.36% 9.13%
Operating Profit -$1.968M -$1.935M -$4.662M
YoY Change -209.82% -58.49% 449.76%
Interest Expense -$120.0K -$130.0K $98.00K
YoY Change -217.65% -232.65% -3.92%
% of Operating Profit
Other Income/Expense, Net -$123.0K -$130.0K -$97.00K
YoY Change 21.78% 34.02% -3.96%
Pretax Income -$2.091M -$2.065M -$4.759M
YoY Change -223.65% -56.61% 401.48%
Income Tax $209.0K $317.0K $165.0K
% Of Pretax Income
Net Earnings -$2.300M -$2.382M -$4.924M
YoY Change -252.42% -51.62% 348.04%
Net Earnings / Revenue -13.44% -15.71% -51.54%
Basic Earnings Per Share -$0.26
Diluted Earnings Per Share -$0.10 -$105.0K -$0.26
COMMON SHARES
Basic Shares Outstanding 22.90M shares 22.51M shares 18.62M shares
Diluted Shares Outstanding 23.01M shares

Balance Sheet

Concept 2014 Q3 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.30M $20.90M $11.20M
YoY Change -10.23% 86.61% -25.83%
Cash & Equivalents $19.32M $20.91M $11.23M
Short-Term Investments
Other Short-Term Assets $1.100M $1.400M $1.500M
YoY Change -15.38% -6.67% -73.68%
Inventory $2.428M $3.019M $1.909M
Prepaid Expenses
Receivables $6.124M $4.124M $2.613M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $28.99M $29.47M $17.27M
YoY Change 5.48% 70.68% -42.96%
LONG-TERM ASSETS
Property, Plant & Equipment $6.737M $7.082M $4.544M
YoY Change 46.71% 55.85% -24.1%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.673M $1.897M $1.562M
YoY Change -45.45% 21.45% -29.89%
Total Long-Term Assets $8.410M $8.979M $6.106M
YoY Change 9.81% 47.05% -25.67%
TOTAL ASSETS
Total Short-Term Assets $28.99M $29.47M $17.27M
Total Long-Term Assets $8.410M $8.979M $6.106M
Total Assets $37.40M $38.45M $23.38M
YoY Change 6.42% 64.5% -39.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.202M $2.484M $1.861M
YoY Change 28.13% 33.48% -60.02%
Accrued Expenses $10.19M $11.27M $9.065M
YoY Change -11.62% 24.3% -26.92%
Deferred Revenue
YoY Change
Short-Term Debt $3.000M $3.000M $3.500M
YoY Change -14.29%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $16.66M $16.99M $14.61M
YoY Change 17.53% 16.32% -15.24%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.800M $3.800M $3.000M
YoY Change 15.15% 26.67% -26.83%
Total Long-Term Liabilities $3.800M $3.800M $3.000M
YoY Change 15.15% 26.67% -26.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.66M $16.99M $14.61M
Total Long-Term Liabilities $3.800M $3.800M $3.000M
Total Liabilities $20.46M $20.77M $17.59M
YoY Change 16.94% 18.04% -17.39%
SHAREHOLDERS EQUITY
Retained Earnings -$350.8M -$348.5M -$345.1M
YoY Change 2.11% 0.99% 4.32%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $16.95M $17.69M $5.783M
YoY Change
Total Liabilities & Shareholders Equity $37.40M $38.45M $23.38M
YoY Change 6.42% 64.5% -39.27%

Cashflow Statement

Concept 2014 Q3 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income -$2.300M -$2.382M -$4.924M
YoY Change -252.42% -51.62% 348.04%
Depreciation, Depletion And Amortization $1.130M $1.150M $1.080M
YoY Change 2.73% 6.48% -8.47%
Cash From Operating Activities -$570.0K $1.170M -$2.050M
YoY Change -108.91% -157.07% -150.25%
INVESTING ACTIVITIES
Capital Expenditures -$400.0K -$1.930M -$340.0K
YoY Change -74.52% 467.65% -22.73%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$400.0K -$1.930M -$340.0K
YoY Change -74.36% 467.65% -22.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -620.0K -260.0K 970.0K
YoY Change -111.46% -126.8% -610.53%
NET CHANGE
Cash From Operating Activities -570.0K 1.170M -2.050M
Cash From Investing Activities -400.0K -1.930M -340.0K
Cash From Financing Activities -620.0K -260.0K 970.0K
Net Change In Cash -1.590M -1.020M -1.420M
YoY Change -115.51% -28.17% -141.16%
FREE CASH FLOW
Cash From Operating Activities -$570.0K $1.170M -$2.050M
Capital Expenditures -$400.0K -$1.930M -$340.0K
Free Cash Flow -$170.0K $3.100M -$1.710M
YoY Change -102.13% -281.29% -137.83%

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us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
193000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
22000 USD
us-gaap Standard Product Warranty Accrual Period Increase Decrease
StandardProductWarrantyAccrualPeriodIncreaseDecrease
120000 USD
us-gaap Standard Product Warranty Accrual Period Increase Decrease
StandardProductWarrantyAccrualPeriodIncreaseDecrease
-53000 USD
CY2013Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
3025000 shares
CY2014Q2 us-gaap Stockholders Equity
StockholdersEquity
17688000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
18942000 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of consolidated financial statements in conformity with GAAP requires us to make estimates and judgments that affect amounts reported in the financial statements and accompanying notes. Our significant estimates and judgments include those related to revenue recognition, product returns, warranty obligations, bad debts, inventories, property and equipment, impairment of long-lived assets, amortization of prepaid royalties, valuation of share-based payments, income taxes, litigation and other contingencies. The actual results experienced could differ materially from our estimates. </font></div></div>
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
22437000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
18554000 shares
CY2013Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
18652000 shares
CY2014Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
22667000 shares
CY2013Q4 pxlw Accrued Commisions And Royalties Current
AccruedCommisionsAndRoyaltiesCurrent
1862000 USD
CY2014Q2 pxlw Accrued Commisions And Royalties Current
AccruedCommisionsAndRoyaltiesCurrent
2026000 USD
pxlw Fixed Asset And Other Asset Expenses Incurred But Not Yet Paid
FixedAssetAndOtherAssetExpensesIncurredButNotYetPaid
2825000 USD
pxlw Fixed Asset And Other Asset Expenses Incurred But Not Yet Paid
FixedAssetAndOtherAssetExpensesIncurredButNotYetPaid
42000 USD
CY2014Q2 pxlw Line Of Credit Facility Component Of Calculation For Maximum Borrowing Amount Under Formula Advances
LineOfCreditFacilityComponentOfCalculationForMaximumBorrowingAmountUnderFormulaAdvances
1000000 USD
CY2014Q2 pxlw Line Of Credit Facility Maximum Borrowing Capacity Limited By Eligible Ar
LineOfCreditFacilityMaximumBorrowingCapacityLimitedByEligibleAr
0.80
CY2014Q2 pxlw Line Of Credit Facility Maximum Borrowing Capacity Under Non Formula Advances
LineOfCreditFacilityMaximumBorrowingCapacityUnderNonFormulaAdvances
10000000 USD
CY2014Q2 pxlw Number Of Patents
NumberOfPatents
125 Patents
CY2013 pxlw Research And Development Benefit Recognized
ResearchAndDevelopmentBenefitRecognized
3500 USD
pxlw Reversal Of Uncertain Tax Positions
ReversalOfUncertainTaxPositions
270000 USD
pxlw Reversal Of Uncertain Tax Positions
ReversalOfUncertainTaxPositions
452000 USD
pxlw Statutory Income Tax Rate In Foreign Country
StatutoryIncomeTaxRateInForeignCountry
0.25
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001040161
CY2014Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
22904262 shares
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Entity Registrant Name
EntityRegistrantName
Pixelworks, Inc.

Files In Submission

Name View Source Status
0001040161-14-000041-index-headers.html Edgar Link pending
0001040161-14-000041-index.html Edgar Link pending
0001040161-14-000041.txt Edgar Link pending
0001040161-14-000041-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
pxlw-20140630.xml Edgar Link completed
pxlw-20140630.xsd Edgar Link pending
pxlw-20140630_cal.xml Edgar Link unprocessable
pxlw-20140630_def.xml Edgar Link unprocessable
pxlw-20140630_lab.xml Edgar Link unprocessable
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