Pixelworks Reports Third Quarter 2020 Financial Results
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PIXELWORKS, INC. | |
CONDENSED CONSOLIDATED BALANCE SHEETS | |
(In thousands) | |
(Unaudited) | | | | |
September 30, |
December 31, | | |
2020 |
2019 | |
ASSETS | | | | Current assets: | | | | Cash and cash equivalents | $ | 16,062 | | $ | 7,257 | | | Short-term marketable securities | | 735 | | | 6,975 | | | Accounts receivable, net | | 5,417 | | | 10,915 | | | Inventories | | 3,895 | | | 5,401 | | | Prepaid expenses and other current assets | | 1,685 | | | 1,689 | | | Total current assets | | 27,794 | | | 32,237 | | | Property and equipment, net | | 5,631 | | | 4,608 | | | Operating lease right of use assets | | 6,943 | | | 5,434 | | | Other assets, net | | 1,187 | | | 1,267 | | | Acquired intangible assets, net | | 1,581 | | | 2,704 | | | Goodwill | | 18,407 | | | 18,407 | | | Total assets | $ | 61,543 | | $ | 64,657 | | | | | | |
LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | Current liabilities: | | | | Accounts payable | $ | 687 | | $ | 818 | | | Accrued liabilities and current portion of long-term liabilities | | 9,649 | | | 8,692 | | | Short-term line of credit | | 3,954 | | | - | | | Current portion of income taxes payable | | 5 | | | 164 | | | Total current liabilities | | 14,295 | | | 9,674 | | | Long-term liabilities, net of current portion | | 1,982 | | | 982 | | | Operating lease liabilities, net of current portion | | 5,304 | | | 4,212 | | | Income taxes payable, net of current portion | | 2,368 | | | 2,260 | | | Total liabilities | | 23,949 | | | 17,128 | | | Shareholders’ equity | | 37,594 | | | 47,529 | | | Total liabilities and shareholders’ equity | $ | 61,543 | | $ | 64,657 | | | | | |
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