-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MNapblqgIDGwMowIO7K+fJoAxLfpGkGDIZtcPQit5fupwN2egfY0ycO9i0JkQpKa DsrFj3EvspQXwfqKJSkong== 0001104659-09-041457.txt : 20090702 0001104659-09-041457.hdr.sgml : 20090702 20090701185932 ACCESSION NUMBER: 0001104659-09-041457 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20090701 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20090702 DATE AS OF CHANGE: 20090701 FILER: COMPANY DATA: COMPANY CONFORMED NAME: QUICKLOGIC CORPORATION CENTRAL INDEX KEY: 0000882508 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 770188504 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22671 FILM NUMBER: 09923994 BUSINESS ADDRESS: STREET 1: 1277 ORLEANS DR CITY: SUNNYVALE STATE: CA ZIP: 94089-1138 BUSINESS PHONE: 4089904000 MAIL ADDRESS: STREET 1: 1277 ORLEANS DRIVE CITY: SUNNYVALE STATE: CA ZIP: 94089-1138 8-K 1 a09-17488_18k.htm 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) July 1, 2009

 

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):

 

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

 

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

 

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

 

o                      Pre-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 July 1, 2009, QuickLogic Corporation (“QuickLogic”) issued a press release pre-announcing earnings for the second quarter ended June 28, 2009.  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:

 

99.1                           Press release of QuickLogic Corporation pre-announcing earnings for the second quarter ended June 28, 2009.

 

2



 

SIGNATURES

 

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

 

 

Date: July 1, 2009

QuickLogic Corporation

 

 

 

 

 

/s/ Ralph S. Marimon

 

 

Ralph S. Marimon
Vice President of Finance and Chief Financial Officer

 

3



 

EXHIBIT INDEX

 

Exhibit
No.

 

Description

99.1

 

Press release of QuickLogic Corporation pre-announcing earnings for the second quarter ended June 28, 2009.

 

4


EX-99.1 2 a09-17488_1ex99d1.htm EX-99.1

Exhibit 99.1

 

GRAPHIC

Contacts:

Ralph S. Marimon
Vice President of Finance
Chief Financial Officer
(408) 990-4000
rsmarimon@quicklogic.com

Andrea Vedanayagam
Director, Corporate
Communications

(408) 990-4000
andrea@quicklogic.com

 

QuickLogic Provides Updated Revenue Outlook for the Second Quarter of 2009

 

SUNNYVALE, Calif.July 1, 2009 — QuickLogic Corporation (NASDAQ: QUIK), the lowest power programmable semiconductor solutions leader, today provided an updated revenue outlook for the second quarter of 2009 which ended on June 28.

 

During the second quarter, new product revenue increased nearly 25%.  However, due to a sharp decrease in demand for our legacy products sold into U.S. and Western European markets, total second quarter revenue is anticipated to be between $2.8 million and $3.0 million, which is below the guidance issued on April 28, 2009.  Other notable items for the quarter include:

 

·                  The book-to-bill ratio for new products was substantially above one-to-one.

·                  Cash used during the quarter was within guidance.

·                  Design wins, production and pre-production contracts for new products, as outlined during the April 28, 2009 conference call, are all moving forward within outlined expectations.

 

“The U.S. and Western European market sectors served by our legacy products were among those hardest hit during the recession and, for the most part, are still struggling.  This is unfortunate, but it is a part of the equation that we can do little to impact.  However, the part of the equation that we can drive is moving forward,” said QuickLogic’s CEO, Tom Hart.  “While second quarter shipments for new products came in at the low end of our expectations, bookings were strong during the last half of June.  We believe this will lead to a material increase in new product shipments in Q3.  We’ll look forward to discussing this and other strategic developments during our July 28 conference call.”

 



 

About QuickLogic

 

QuickLogic Corporation (NASDAQ: QUIK) is the pioneer of innovative, customizable semiconductor solutions for mobile and portable electronics original equipment manufacturers (OEMs) and original design manufacturers (ODMs).  These silicon plus software solutions are called Customer Specific Standard Products (CSSPs).  CSSPs enable our customers to bring their products to market more quickly and remain in the market longer, with the low power, cost and size demanded by the mobile and portable electronics market.  For more information about QuickLogic and CSSPs, visit www.quicklogic.com. Code: QUIK-G

 

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

 

This press release contains forward-looking statements concerning the Company’s anticipated revenue for the second quarter as well as the Company’s outlook, its bookings and product shipments, and the revenue generating potential of its legacy products and new products, which are dependent on the strength of the global economy, market acceptance of its products, and the level of customer orders.  These forward-looking statements are based on management’s current expectations, assumptions, estimates and projections about the Company and its industry.  Actual results could differ materially from the results described in these forward-looking statements.  Factors that could cause actual results to differ materially include: review of transactions as part of our quarter end process; review of our financial results by our independent auditors; delays in the market acceptance of the Company’s new products; the ability to convert design opportunities into customer revenue; our ability to replace revenue from end-of-life legacy products; the level and timing of customer design activity; the market acceptance of our customers’ products; the risk that new orders may not result in future revenue; our ability to introduce and produce new products based on advanced wafer technology on a timely basis; our ability to adequately market the low power, competitive pricing and short time-to-market of our new products; intense competition, including the introduction of new products by competitors; our ability to hire and retain qualified personnel; changes in product demand or supply; capacity constraints; and general economic conditions. These factors and others 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.

 

QuickLogic is a registered trademark and the QuickLogic logo is a trademark of QuickLogic Corporation.

 


GRAPHIC 3 g174881mmi001.gif GRAPHIC begin 644 g174881mmi001.gif M1TE&.#EA%`$U`'<`,2'^&E-O9G1W87)E.B!-:6-R;W-O9G0@3V9F:6-E`"'Y M!`$`````+``````4`34`AP````````#__Y&1D9F9F9F9NY'9V:JJJKN[N[.S ML[.WN[.WM[&UN;6UN;>WN[.[N[>WMZJ[N[6WN;.UM[.UN;:XNK6YN[6WM[.S MN[.SM[>WN;:VM[2VN+2WN+6XN;.WN;2VM[.VM[2VN;6WN+.UN+6VN;J\OK2W MN;N]O[2XN[.YNK>NKK.VMK6ZO+BPLK>YN[*YN["]O[6UM[.XNK"\OKFPLKF[ MO;.ZO+BZO+>[O;>QM+BXNK2UM[6XNK2XNK._O[&[O;.[O;&\O;*^O[&\OK2Y MNK&ZO+6YN;^FJ+.XN[2XN;6WN[.VN+>YN;:YN[6VMZJJL[>[N[6VN+2UN+.T MMZJJNZZWM[.WN+2TN+6VMK*TMK>WO[.SQ+V_P;R^P*R_PKF^P+&^P+&_P;*_ MP;*^P*^^P+R^P;V_PKN[S+[`P[[`PKO(RK_!PZC,S+#!PKO`P[_!Q+_"Q+O, MS-=]?]]Q=-MY?-=]?=B0DM2#AM2&B-&'B<:9G,F4E\B7F<6;GM.$AL*=H,&E MI\S,S,+%Q\O.T,7'R<#"Q,'#Q<3&R,/&R,K,S\G,SL+$QLG+SY65_]"1/]!1/]`0_I$1^M<7_I#1?]`0.AC M9>EU>.)Q<^%N<.AA9/^J`/^JJO___P$"`P$"`P$"`P$"`P$"`P$"`P$"`P$" M`P$"`P$"`P$"`P$"`P$"`P$"`P$"`P$"`P$"`P$"`P$"`P$"`P$"`P$"`P$" M`P$"`P$"`P$"`P$"`P$"`P$"`PC_``$('$BPH,&#"!,J7,BPH4.&`2)&?$BQ MHL6+&#%*S,BQHT>#`0"$'"FR9,B/""5.1#EPHT.2+&-25+E2IDV9-'/J=(E3 M94^>"FG>')K2)]&C!BT]W,DTITVA,8TVE(KT*-6J'74!P`0@$P"E7&Q7H3)EN,FC9QRA0V(U.3>'>"7/I69%F_4J'V'4P80*6M6SMY]02` MDMFU"04+5LMS9%J39)T*G`RX)F>+EC-'[GQW;]G0F?]2_(0)$RA>F#81_4S9 ML^JBMB^GUKL9J.:6MU_N5CW\M._BD!5RU82I%S-?K;$FQYW[,O6SDI$'WFX\ M.$3M9WMK_P=>&;QUA)@X8>+5S-FOZ&QIUR8??B'WZN/%G_Q-4+Y]\]B9UU]Y M`BI$%R_`@`(*,(H5-MU!V7E'7X`$GB?<1K3Y]YV$$5I84(<4>EC1@;QTTAIT MA>E7WW\5+M6BBAPU%9F$,])(VH13W4>?1UR)PF!KF'0"BE=D&H*9YPUSO])YYU;SMI9 MJQ7Y8J*GL25T`0`<<-!%&AP`0,%LE+ZIIK(Z1EH:H\E.:NF;2V:ZK$&@\`ID M)P:10.H@A'A1@G2I6DLIB-2"AJ%\UTXJHKDV=ICI0T%J&R0`7P!`JAJ#%&+" M"0`8&9]/)!6,&;H&)]PHC`GGA1?#_)$V4<,-,^PP:N$Y1;&K"%]\,2;`P,;K M)[[:JX(LT2#S[XPP[W!]AHD[ME^>00+9RNV7G[F"Y&+W0Q0LA`E8ZF*(;H`P>Y]8`?<(,4GTL8`A$8`DM8*@^ M3F$P6]'ABA3?2,A"*L0QI%C%-;SA!Q&4P0A;[!X.V"""$=QD=H[Q2I_.AQBN M'-"0H,PAITR$BE4<`QM_0$(2WN`%'$@@6#A0`PY$4*R^<&43FV@-\H"DGEYY M,I3`K-Z/@)1(563C&P"`@0BZP`83O$`"%4"!(210`B54[S"8!,#L/H$8QL@& M5%QA#%?V]!7$9-,QATFG88+)SH,`TE.?0(4J;#$0'G!``F8PA!=L8/\#+[#! M!DP(03L'2E"*<.*=GFIA02:@+PXXX0QP4(,:#F&("O```!=%0$$WRE$`A,Q> M"D6(!$3P!"9PP`R(0$0A"J&&$?"@`Z?JJ$Q!^0F@G2],!7Q(F4``+"EX(1&* M6`0C7L`$```L43--ZA1=H[QM_4(V%RE3"400`@ZDH1&.*`0*["F!,AU!J6!- M8"U><]/6\"*7'S%2L4@E`13$(0Y>D(`E`58F)(7UKH2A1"8XP0L"XK2&1Y&" M!SH@!0CF+UA2X*D,\,I8HH@Q9`'L*ZC8B!0CM:Q8/"T6$T`@`@!,@014`$!1 M&8HDAC(```YHK&H;,A?7),A$0F(05.>'5`"Z2,%,/"C3%;"0!:/*0`L#^95` M%CO"N-'&X01;XP0A4RC:W$J9<
-----END PRIVACY-ENHANCED MESSAGE-----