QuickLogic Announces Large Display Bridge Purchase Order and Provides Preliminary Selected Fourth Quarter Fiscal 2021 Financial Results

SAN JOSE, Calif., Jan. 18, 2022 -- QuickLogic Corporation (NASDAQ: QUIK), a developer of ultra-low power multi-core voice-enabled SoCs, embedded FPGA IP, and Endpoint AI solutions, today announced preliminary selected financial results for its fourth fiscal quarter, ending January 2, 2022.

Global supply chain problems brought on by the COVID-19 pandemic have created a worldwide shortage of certain display bridge semiconductor solutions. In recent weeks several of the world's largest consumer product suppliers have engaged QuickLogic based on its ability to provide solutions with shorter lead times. In a separate announcement issued last week, QuickLogic reiterated that it has off-the-shelf availability of its ArcticLink® III BX display interface bridging devices and can fulfill the void in the market. The company has delivered over 50 million such devices to date.

"Demand for ArcticLink® is strong and we have ample supply to support current and expected future orders. I expect the demand trend to last at least through the first half of fiscal 2022 adding to my confidence that we will achieve the revenue growth and profitability targets we previously discussed," said Brian Faith, chief executive officer at QuickLogic.

QuickLogic cautions that its anticipated revenue and cash breakeven results are preliminary, based on the best information available and are subject to completion of audited financial statements for its fiscal year 2021.

The Company expects to announce its full financial results for the fourth quarter and fiscal year 2021 on or about February 16, 2022. Event details will be announced in a separate news release closer to the earnings release date.

About QuickLogic
QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor company that develops low power, multi-core semiconductor platforms and Intellectual Property (IP) for Artificial Intelligence (AI), voice and sensor processing. The solutions include embedded FPGA IP (eFPGA) for hardware acceleration and pre-processing, and heterogeneous multi-core SoCs that integrate eFPGA with other processors and peripherals. The Analytics Toolkit from our recently acquired wholly owned subsidiary, SensiML Corporation, completes the end-to-end solution with accurate sensor algorithms using AI technology. The full range of platforms, software tools and eFPGA IP enables the practical and efficient adoption of AI, voice, and sensor processing across mobile, wearable, hearable, consumer, industrial, edge and endpoint IoT. For more information, visit www.quicklogic.com and https://www.quicklogic.com/blog/.