$QUIK
QUICKLOGIC Corp Stock $quik

$quik Overview Financials Valuation SEC Filings Company Website

2017 Q2 Form 10-Q Financial Statement

#000088250817000027 Filed on May 11, 2017

Income Statement

Concept	2017 Q2	2016 Q2
Revenue	$3.170M	$2.950M
YoY Change	7.46%	-40.68%
Cost Of Revenue	$1.797M	$1.794M
YoY Change	0.17%	-36.61%
Gross Profit	$1.373M	$1.156M
YoY Change	18.77%	-46.06%
Gross Profit Margin	43.31%	39.19%
Selling, General & Admin	$2.414M	$2.693M
YoY Change	-10.36%	0.11%
% of Gross Profit	175.82%	232.96%
Research & Development	$2.427M	$3.447M
YoY Change	-29.59%	-1.32%
% of Gross Profit	176.77%	298.18%
Depreciation & Amortization	$360.0K	$310.0K
YoY Change	16.13%	-13.89%
% of Gross Profit	26.22%	26.82%
Operating Expenses	$4.841M	$6.140M
YoY Change	-21.16%	-3.34%
Operating Profit	-$3.468M	-$4.984M
YoY Change	-30.42%	18.41%
Interest Expense	$61.00K	$38.00K
YoY Change	60.53%	153.33%
% of Operating Profit
Other Income/Expense, Net	$0.00	-$7.000K
YoY Change	-100.0%	-78.79%
Pretax Income	-$3.529M	-$5.029M
YoY Change	-29.83%	18.13%
Income Tax	$36.00K	$64.00K
% Of Pretax Income
Net Earnings	-$3.565M	-$5.093M
YoY Change	-30.0%	19.05%
Net Earnings / Revenue	-112.46%	-172.64%
Basic Earnings Per Share	-$0.05	-$0.09
Diluted Earnings Per Share	-$0.05	-$0.09
COMMON SHARES
Basic Shares Outstanding	68.79M shares	58.37M shares
Diluted Shares Outstanding	68.79M shares	58.37M shares

Balance Sheet

Concept	2017 Q2	2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$26.70M	$23.30M
YoY Change	14.59%	-11.74%
Cash & Equivalents	$26.67M	$23.30M
Short-Term Investments
Other Short-Term Assets	$141.0K	$104.0K
YoY Change	35.58%	-3.7%
Inventory	$2.861M	$3.330M
Prepaid Expenses	$836.0K	$1.076M
Receivables	$1.807M	$1.555M
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$32.32M	$29.37M
YoY Change	10.05%	-7.9%
LONG-TERM ASSETS
Property, Plant & Equipment	$2.566M	$3.636M
YoY Change	-29.43%	35.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$233.0K	$229.0K
YoY Change	1.75%	0.0%
Total Long-Term Assets	$2.799M	$3.865M
YoY Change	-27.58%	32.45%
TOTAL ASSETS
Total Short-Term Assets	$32.32M	$29.37M
Total Long-Term Assets	$2.799M	$3.865M
Total Assets	$35.12M	$33.23M
YoY Change	5.68%	-4.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$2.500M	$3.300M
YoY Change	-24.24%	50.0%
Accrued Expenses	$2.016M	$1.828M
YoY Change	10.28%	-11.65%
Deferred Revenue
YoY Change
Short-Term Debt	$6.000M	$0.00
YoY Change
Long-Term Debt Due	$200.0K	$300.0K
YoY Change	-33.33%	-75.0%
Total Short-Term Liabilities	$11.00M	$5.428M
YoY Change	102.69%	-1.97%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$3.100M
YoY Change	-100.0%	3000.0%
Other Long-Term Liabilities	$45.00K	$127.0K
YoY Change	-64.57%	-18.06%
Total Long-Term Liabilities	$45.00K	$127.0K
YoY Change	-64.57%	-18.06%
TOTAL LIABILITIES
Total Short-Term Liabilities	$11.00M	$5.428M
Total Long-Term Liabilities	$45.00K	$127.0K
Total Liabilities	$11.09M	$8.686M
YoY Change	27.67%	51.11%
SHAREHOLDERS EQUITY
Retained Earnings	-$243.5M	-$225.8M
YoY Change	7.8%	7.13%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$24.03M	$24.55M
YoY Change
Total Liabilities & Shareholders Equity	$35.12M	$33.23M
YoY Change	5.68%	-4.52%

Cashflow Statement

Concept	2017 Q2	2016 Q2
OPERATING ACTIVITIES
Net Income	-$3.565M	-$5.093M
YoY Change	-30.0%	19.05%
Depreciation, Depletion And Amortization	$360.0K	$310.0K
YoY Change	16.13%	-13.89%
Cash From Operating Activities	-$3.866M	-$4.457M
YoY Change	-13.26%	119.56%
INVESTING ACTIVITIES
Capital Expenditures	$15.00K	$1.051M
YoY Change	-98.57%	-1055.45%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities	-$15.00K	-$1.051M
YoY Change	-98.57%	855.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net	$17.07M	$10.00M
YoY Change	70.69%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	$15.69M	$9.674M
YoY Change	62.14%	2745.29%
NET CHANGE
Cash From Operating Activities	-$3.866M	-$4.457M
Cash From Investing Activities	-$15.00K	-$1.051M
Cash From Financing Activities	$15.69M	$9.674M
Net Change In Cash	$11.80M	$4.166M
YoY Change	183.34%	-331.44%
FREE CASH FLOW
Cash From Operating Activities	-$3.866M	-$4.457M
Capital Expenditures	$15.00K	$1.051M
Free Cash Flow	-$3.881M	-$5.508M
YoY Change	-29.54%	186.88%

Facts In Submission

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CY2017Q2	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2017
CY2017Q2	dei	Document Period End Date DocumentPeriodEndDate	2017-04-02
CY2017Q2	dei	Document Type DocumentType	10-Q
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CY2017Q2	dei	Entity Filer Category EntityFilerCategory	Accelerated Filer
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CY2016Q2	us-gaap	Repayments Of Debt And Capital Lease Obligations RepaymentsOfDebtAndCapitalLeaseObligations	75000	USD
CY2017Q2	us-gaap	Repayments Of Debt And Capital Lease Obligations RepaymentsOfDebtAndCapitalLeaseObligations	122000	USD
CY2016Q2	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	3447000	USD
CY2017Q2	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	2427000	USD
CY2017Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-239904000	USD
CY2017Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-243469000	USD
CY2016Q2	us-gaap	Sales Revenue Net SalesRevenueNet	2950000	USD
CY2017Q2	us-gaap	Sales Revenue Net SalesRevenueNet	3170000	USD
CY2016Q2	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	2693000	USD
CY2017Q2	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	2414000	USD
CY2016Q2	us-gaap	Share Based Compensation ShareBasedCompensation	562000	USD
CY2017Q2	us-gaap	Share Based Compensation ShareBasedCompensation	318000	USD
CY2017Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod	101000	shares
CY2017Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue	0.00
CY2017Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod	136000	shares
CY2017Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	1.70
CY2017Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber	1370000	shares
CY2017Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber	1353000	shares
CY2017Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue	1.68
CY2017Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue	1.68
CY2017Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod	52000	shares
CY2017Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue	1.72
CY2017Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber	3976000	shares
CY2017Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice	2.61
CY2016Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue	0	USD
CY2017Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue	27000	USD
CY2017Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod	80000	shares
CY2017Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue	1136000	USD
CY2017Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	4979000	shares
CY2017Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	4846000	shares
CY2017Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	2.35
CY2017Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	2.35
CY2017Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue	999000	USD
CY2017Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber	4685000	shares
CY2017Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice	2.39
CY2016Q2	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice	1.31
CY2017Q2	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice	3.01
CY2017Q2	us-gaap	Share Price SharePrice	1.78
CY2016Q1	us-gaap	Share Price SharePrice	1.00
CY2017Q1	us-gaap	Share Price SharePrice	1.50
CY2017Q1	us-gaap	Share Price SharePrice	1.50
CY2017Q2	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1	449000	USD
CY2017Q2	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1	P2Y8M27D
CY2017Q2	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	P3Y10M17D
CY2017Q2	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1	P3Y8M12D
CY2016Q2	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	53000	shares
CY2017Q1	us-gaap	Stockholders Equity StockholdersEquity	11988000	USD
CY2017Q2	us-gaap	Stockholders Equity StockholdersEquity	24029000	USD
CY2016Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	58371000	shares
CY2017Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	68794000	shares
CY2016Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	58371000	shares
CY2017Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	68794000	shares
CY2017Q2	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Concentration of Risk</font></div><div style="line-height:120%;text-align:left;padding-left:14px;text-indent:-14px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's accounts receivable are denominated in U.S. dollars and are derived primarily from sales to customers located in North America, Asia Pacific, and Europe. The Company performs ongoing credit evaluations of its customers and generally does not require collateral. See Note 11 for information regarding concentrations associated with accounts receivable.</font></div></div>
CY2017Q2	us-gaap	Fiscal Period FiscalPeriod	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">QuickLogic's fiscal year ends on the Sunday closest to December 31 and the fiscal quarters each end on the Sunday closest to the end of each calendar quarter. QuickLogic's </font><font style="font-family:inherit;font-size:10pt;">first</font><font style="font-family:inherit;font-size:10pt;"> fiscal quarters for </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">2017</font><font style="font-family:inherit;font-size:10pt;"> and for </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">2016</font><font style="font-family:inherit;font-size:10pt;"> ended on Sunday, </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">April 2, 2017</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">April 3, 2016</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div></div>
CY2017Q2	us-gaap	Use Of Estimates UseOfEstimates	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Uses of Estimates</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of these consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities and the reported amounts of revenue and expenses during the period. Actual results could differ materially from those estimates, particularly in relation to revenue recognition, the allowance for doubtful accounts, sales returns, valuation of investments, valuation of long-lived assets including mask sets, valuation of inventories including identification of excess quantities, market value and obsolescence, measurement of stock-based compensation awards, accounting for income taxes and estimating accrued liabilities.</font></div></div>

Files In Submission

Name	View Source	Status
0000882508-17-000027-index-headers.html	Edgar Link	pending
0000882508-17-000027-index.html	Edgar Link	pending
0000882508-17-000027.txt	Edgar Link	pending
0000882508-17-000027-xbrl.zip	Edgar Link	pending
a2009esppplanamendedex102.htm	Edgar Link	pending
a2009stockplanamendedex101.htm	Edgar Link	pending
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Financial_Report.xlsx	Edgar Link	pending
quik-20170402.xml	Edgar Link	completed
quik-20170402.xsd	Edgar Link	pending
quik-20170402_cal.xml	Edgar Link	unprocessable
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2017 Q2 Form 10-Q Financial Statement

#000088250817000027 Filed on May 11, 2017

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2017 Q2 Form 10-Q Financial Statement

#000088250817000027 Filed on May 11, 2017

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

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QUICKLOGIC Corp Stock $quik