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Dec 31, 2022
Gsi Technology Q3 2023 Earnings Report
Reported a net loss of $4.8 million on net revenues of $6.4 million.
Key Takeaways
GSI Technology reported third quarter fiscal 2023 results with revenue of $6.4 million, a net loss of $4.8 million, and a gross margin of 57.5%. The company is implementing cost-reduction initiatives expected to achieve $7 million in annualized savings.
Third quarter revenue was $6.4 million, within guidance but at the lower end.
Gross margin was 57.5%, exceeding the high end of the guidance range.
The company is on track to achieve $7 million in savings on an annualized basis through strategic cost-reductions.
Net loss was ($4.8 million), or ($0.20) per diluted share.
Revenue by Segment
Forward Guidance
Current expectations for the upcoming fiscal fourth quarter are net revenues in a range of $5.0 million to $5.6 million, with gross margin of approximately 49% to 51%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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