O2Micro International (OIIM) swung to a net profit for the quarter ended Sep. 30, 2016. The company has made a net profit of $1.33 million, or $ 0.05 a share in the quarter, against a net loss of $2.36 million, or $0.09 a share in the last year period. Revenue during the quarter grew 5.66 percent to $14.44 million from $13.67 million in the previous year period. Gross margin for the quarter expanded 56 basis points over the previous year period to 52.60 percent. Operating margin for the quarter stood at negative 7.64 percent as compared to a negative 25.02 percent for the previous year period.
Operating loss for the quarter was $1.10 million, compared with an operating loss of $3.42 million in the previous year period.
"Third quarter 2016 financial results were within the range of the guidance that we provided in August as we continue to grow revenue and execute on our business objectives," said Sterling Du, O2Micros chairman and chief executive officer. "Our fourth quarter revenue guidance reflects ongoing product ramps in our high potential growth drivers for the consumer and industrial end markets which include backlighting for the TV market, power tools, household appliances, LED lighting and smartphones and tablets. We believe our solutions for these product segments will continue to contribute to our top-line growth in upcoming quarters and lead O2Micro back to long term profitability."
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