Pixelworks, Inc. announced FY17 Q1 result with revenue of $22.7 million and adjusted EBITDA of $5.0 million, resulting in an EBITDA margin of 22%. The GAAP net income was $2.8 million with a net margin of 12.3%. Quarterly revenue more than doubled compared to FY16 Q1 revenue of $11.2 million because of solid market demand, while the net loss of $8.6 million in FY16 Q1 was converted to a net income in the current quarter.
In FY17 Q1, revenue for EOL (End of Life) products contributed a significant $9.2 million while the remaining revenue from digital projection market grew by 43% due to seasonality factors. The FY17 Q2 revenue is expected to be in range of $20-$21 million with around $5 million being contributed by EOL products.