GSI Tech Q3 revenue $6.4M, net loss $0.20/sh; guides Q4 rev $5.0-$5.6M

GSI TECHNOLOGY INC

2023-Q3 EPS reported -$0.49 revenue$24,309,000

Revenue $6.4M vs $8.1M YoY and $9.0M prior qtr; net loss $4.8M ($0.20 diluted) vs $4.6M ($0.19) YoY.
Gross margin 57.5% exceeded guidance high end; Q4 gross margin guidance 49%-51%.
Cost reduction initiatives targeting $7M annual savings; layoffs implemented Nov 2022.
Cash and investments $35.2M at Dec 31, down from $44.0M at Mar 31; no debt.
Q4 fiscal 2023 guidance: revenue $5.0M-$5.6M; gross margin 49%-51%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GSI TECHNOLOGY INC reported third fiscal quarter ended December 31, 2022 results: revenue $6.4 million, net income ($4.8 million), EPS ($0.20) per diluted share. Guidance initiated.

Period: third fiscal quarter ended December 31, 2022
Revenue: $6.4 million
Net income: ($4.8 million)
EPS: ($0.20) per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

The Company reported a net loss of ($4.8 million), or ($0.20) per diluted share, on net revenues of $6.4 million for the third quarter of fiscal 2023

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Source: SEC EDGAR

accession 0001171843-23-000507

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