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Jun 30, 2020
Gsi Technology Q1 2021 Earnings Report
Reported first quarter fiscal 2021 results, which were affected by business challenges related to COVID-19 restrictions globally.
Key Takeaways
GSI Technology reported a net loss of $6.1 million, or $0.26 per diluted share, on net revenues of $6.6 million for the first quarter of fiscal 2021. The results were impacted by COVID-19 restrictions. The company is focused on commercializing its Gemini APU technology.
Net revenues for the first quarter of fiscal 2021 were $6.6 million.
Net loss for the first quarter of fiscal 2021 was $(6.1 million), or $(0.26) per diluted share.
Gross margin was 46.1% compared to 63.3% in the prior year period.
The company had $64.6 million in cash, cash equivalents and short-term investments at June 30, 2020.
Revenue by Geographic Location
Forward Guidance
The company expects net revenues to be in a range of $6.0 million to $7.2 million, with gross margin of approximately 41% to 43% for the second quarter of fiscal 2021.
Challenges Ahead
- COVID-19 global pandemic has restricted the activities of GSI’s sales force and distributors.
- Reduced customer demand.
- Postponement of investment in certain customer sectors.
- Challenges as GSI enters new markets and engages with target customers.
- Industry conferences and on-site training workshops are unavailable due to COVID-19 related restrictions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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