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Pixelworks posts 1Q profit

SAN JOSE, Calif. (AP) _ Pixelworks Inc. (PXLW) on Thursday reported first-quarter net income of $2.8 million, after reporting a loss in the same period a year earlier.

The San Jose, California-based company said it had net income of 9 cents per share. Earnings, adjusted for stock option expense and pretax expenses, were 12 cents per share.

The maker of chips used in high-end digital video devices posted revenue of $22.7 million in the period.

For the current quarter ending in July, Pixelworks said it expects revenue in the range of $20 million to $21 million.

In the final minutes of trading on Thursday, the company's shares hit $4.67. A year ago, they were trading at $2.10.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PXLW at https://www.zacks.com/ap/PXLW

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Keywords: Pixelworks, Earnings Report