Pixelworks Reports First Quarter 2020 Financial Results


PIXELWORKS, INC. 
CONDENSED CONSOLIDATED BALANCE SHEETS 
(In thousands) 
(Unaudited) 
  
  March 31,
2020
  December 31,
2019
 
ASSETS    
Current assets:    
Cash and cash equivalents$17,933 $7,257 
Short-term marketable securities 2,484  6,975 
Accounts receivable, net 8,850  10,915 
Inventories 4,540  5,401 
Prepaid expenses and other current assets 2,067  1,689 
Total current assets 35,874  32,237 
Property and equipment, net 5,284  4,608 
Operating lease right of use assets 7,494  5,434 
Other assets, net 1,355  1,267 
Acquired intangible assets, net 2,329     2,704  
Goodwill   18,407     18,407  
Total assets $ 70,743   $ 64,657  
LIABILITIES AND SHAREHOLDERS’ EQUITY        
Current liabilities:        
Accounts payable $ 2,297   $ 818  
Accrued liabilities and current portion of long-term liabilities   9,412     8,692  
Short-term line of credit   5,157      
Current portion of income taxes payable   200     164  
Total current liabilities   17,066     9,674  
Long-term liabilities, net of current portion   1,579     982  
Operating lease liabilities, net of current portion   5,567     4,212  
Income taxes payable, net of current portion   2,260     2,260  
Total liabilities   26,472     17,128  
Shareholders’ equity   44,271     47,529  
Total liabilities and shareholders’ equity $ 70,743   $ 64,657  
         

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