Pixelplus Reports Q4 2010 Results

PR Newswire: Pixelplus announced unaudited financial results for Q4 2010. The revenue for the quarter was 7.5 billion Korean won (US$6.6 million), compared to 7.0 billion Korean won (US$6.1 million) in Q3 2010, and 6.0 billion Korean won (US$5.3 million) in Q4 2009.

Net income in Q4 2010 was 0.9 billion Korean won (US$0.8 million), compared to a net income of 1.6 billion Korean won (US$1.4 million) in Q3 2010, and a net income of 2.0 billion Korean won (US$1.8 million) in Q4 2009. Gross margin for Q4 2010 was 34.7%, compared to 40.5% in Q3 2010. The Company's lower-than-expected gross margin was mainly due to decrease in the average selling price of its image sensor sold in the fourth quarter.

"We remain fully committed to achieving our long-term growth targets and business strategies through developing new products, penetrating new markets, and securing new design wins. ...the Company continues to vigorously pursue cost-control measures and effectively manage our operating expenses," said S.K. Lee, CEO and Founder of Pixelplus.