8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) October 25, 2006

QuickLogic Corporation

(Exact name of registrant as specified in its charter)

Delaware	000-22671	77-0188504
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)
1277 Orleans Drive, Sunnyvale, CA		94089-1138
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code (408) 990-4000

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 2 – Financial Information

Item 2.02 Results of Operation and Financial Condition.

On October 25, 2006, QuickLogic Corporation (“QuickLogic”) issued a press release regarding QuickLogic’s revenue results for the quarter ended September 30, 2006.  A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

This information, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that Section, and shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Section 9 – Financial Statements and Exhibits

Item 9.01(d) Exhibits.

The following exhibit is furnished as a part of this report:

99.1Press release dated October 25, 2006 of QuickLogic Corporation announcing revenue results for the quarter ended September 30, 2006.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: October 25, 2006	QuickLogic Corporation
	/s/Carl M. Mills
	Carl M. Mills Vice President of Finance and Chief Financial Officer

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EXHIBIT INDEX

Exhibit No.	Description
99.1	Press release dated October 25, 2006 of QuickLogic Corporation announcing revenue results for the quarter ended September 30, 2006.

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EX-99.1

Exhibit 99.1

Contacts:

Carl M. Mills
Chief Financial Officer
(408) 990-4000
cmills@quicklogic.com

Kristine Mozes
Mozes Communications
(781) 652-8875
kristine@mozescomm.com

QuickLogic Announces Third Quarter Revenue  –

New Products Contribute 27% of Revenue

SUNNYVALE, Calif. – Oct. 25, 2006 – QuickLogic Corporation (NASDAQ: QUIK), the lowest power programmable logic leader, today announced its revenue results for the third quarter ended September 30, 2006.  Additional financial results for the third quarter will be available as soon as practicable after the Company’s internal review of historical stock option practices and related accounting is completed.

Revenue for the third quarter of 2006 was $8.6 million, down seven percent compared with the second quarter of 2006, and down 32 percent compared with the third quarter of 2005. The year-over-year change in revenue was primarily due to both the Company’s pASIC 1 and pASIC 2 end-of-life program and to reduced sales for specific military applications, which was partially offset by revenue growth from its new products. These new products – Eclipse™ II, QuickPCI® II, PolarPro™ and QuickMIPS – contributed 27 percent of revenue in the third quarter of 2006, compared with 25 percent of revenue in the second quarter of 2006 and four percent of revenue in the third quarter of 2005.

The Company also reported that the historical financial impact of its previously announced internal review of stock option practices and related accounting is not yet known. The Company will not announce its full financial results nor file its quarterly reports on Form 10-Q for the third quarter ended September 30, 2006 or the second quarter ended June 30, 2006 until after the completion of the review. The Company will make every effort to complete its review and provide full financial results as soon as practicable. Company executives will refrain from commenting further until the review is concluded.

“New product revenue grew in the third quarter to be 27 percent of total revenue. While we are disappointed with our total revenue results, we continue to be confident in our future due to customer response

to the compelling advantage of our lowest-power solutions,” said E. Thomas Hart, chairman, president and CEO. “In addition, we finished the quarter with a cash position of $29.8 million.”

Conference Call

QuickLogic will hold a conference call at 2:30 pm Pacific Time today, October 25, 2006, to discuss the third quarter revenue results. The conference call is being webcast and can be accessed via QuickLogic’s website at www.quicklogic.com/investors. To participate, please call (913) 981-4900 by 2:20 p.m. Pacific Time. A recording of the call will be available starting one hour after completion of the call. To access the recording, please call (719) 457-0820 and reference the pass code: 2103410. The call recording will be archived until November 1, 2006 and the webcast will be available for 12 months.

About QuickLogic

QuickLogic Corporation (NASDAQ: QUIK) is the leading provider of the lowest power programmable logic solutions for the portable electronics, industrial, communications and military markets.  Our latest products, PolarPro, Eclipse II and QuickPCI II, are being used to implement bridge and control solutions in embedded systems requiring Wi-Fi and IDE-based hard disk drives.  QuickLogic’s proprietary ViaLink® technology offers significant benefits for programmable logic, including the lowest power, instant-on capability and bulletproof intellectual property security.  The Company is located at 1277 Orleans Drive, Sunnyvale, CA 94089-1138. For more information, please visit the QuickLogic web site at www.quicklogic.com.

Safe Harbor Statement Under The Private Securities Litigation Reform Act of 1995

This press release contains forward-looking statements made by the Company relating to its future prospects.  Actual results could differ materially from any such forward-looking statements. Factors that could cause actual results to differ materially are described in more detail in the Company’s public reports filed with the Securities and Exchange Commission, including the risks discussed in the “Risk Factors” section in the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and in the Company’s prior press releases.

The QuickLogic name and logo are registered trademarks of QuickLogic Corporation. All other brands or trademarks are the property of their respective holders and should be treated as such. Our wirewatch code is QUIK-E.

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Note to Editors: Financial Table Follows

QUICKLOGIC CORPORATION

SUPPLEMENTAL DATA

(Unaudited)

							Change in Revenue
	Q3		Q3		Q2		Q3 2005 to		Q2 2006 to
	2006		2005		2006		Q3 2006		Q3 2006
Revenue	$	8,598	$	12,645	$	9,249	(32	)%	(7	)%

	Percentage of  Revenue
COMPOSITION OF REVENUE
Revenue by product (1):
Mature products	45	%	64	%	44	%	(53	)%	(6	)%
Embedded standard products	23	%	26	%	27	%	(40	)%	(21	)%
Advanced embedded standard products	32	%	10	%	29	%	121	%	4	%
Revenue by geography:
North America	45	%	60	%	39	%	(49	)%	9	%
Europe	40	%	29	%	43	%	(7	)%	(14	)%
Japan	7	%	7	%	10	%	(33	)%	(39	)%
Rest of world	8	%	4	%	8	%	59	%	(5	)%
Revenue by end-customer segment:
Instrumentation and test	38	%	44	%	40	%	(42	)%	(11	)%
Datacom and telecom	37	%	15	%	35	%	66	%	(2	)%
Military and aerospace systems	10	%	32	%	9	%	(80	)%	(1	)%
Graphics and imaging	12	%	5	%	10	%	82	%	13	%
Computing	3	%	4	%	6	%	(50	)%	(52	)%

(1)The mature product family includes pASIC 1, pASIC 2 and pASIC 3 products. The embedded standard product family includes QuickRAM, QuickPCI, QuickDSP, QuickFC and V3 products. The advanced embedded standard product family includes Eclipse, Eclipse II, QuickPCI II, QuickMIPS and PolarPro products, as well as programming hardware and software.