Pixelworks (PXLW) Achieves Profitability; Valeant Pharmaceuticals Intl (VRX) Key Date Approaching
Pixelworks, Inc. (Nasdaq:PXLW) shares soared more than 15% to touch a new 52-week high in the extended session Thursday after the company delivered in its financial results quarterly profit and revenue numbers above analysts’ projections.
For the fourth quarter 2016, Pixelworks posted revenue of $15.99 million, an 18.62% increase year over year, and non-GAAP net income of $1.16 million, or $0.04 per diluted share, versus a non-GAAP net loss of ($2.24) million, or ($0.08) per diluted share in the same quarter the prior year, topping the Capital IQ Consensus Estimate of $0.01 earnings per share on revenues of $15.49 million for the period.
According to its business outlook, the company expects first-quarter 2017 revenue to be in the range of $22 million to $23 million, also exceeding the Capital IQ Consensus Estimate of $18.52 million in revenue for the next quarter.
PXLW stock closed at $3.14, up $0.10 (or +3.29%) and 471,413 of its shares changed hands during the day.
Pixelworks, which creates, develops and markets video display processing technology for digital video applications that demand the very highest quality images, has 28.66M shares outstanding. At close on Thursday, the company had a market capitalization of $89.98M and PXLW stock one-year range was between $1.22 and $3.49 per share.
Valeant Pharmaceuticals International, Inc. (NYSE:VRX) stock finished in positive territory by 4.22% (or +$0.58) at $14.31 with a total volume of 23.34M shares traded on Thursday, representing a large increase in activity versus its average volume (3m) of 13.97M shares.
The Canadian pharmaceutical and medical device company plans to hold a conference call to discuss its financial results for the fourth-quarter and full-year 2016 – also to provide its 2017 outlook – on Tuesday, February 28 before the market open.
Valeant Pharmaceuticals International, which develops, manufactures, and markets pharmaceuticals, OTC products, and medical devices worldwide, has 341.19M shares outstanding, market capitalization (intraday) of $4.77B and VRX stock 52-week range is from $13.00 to $100.62 per share.
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