Adesto Technologies Corporation announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported revenues of $15,302,000 compared to $11,307,000 a year ago. Loss from operations was $950,000 compared to $2,553,000 a year ago. Loss before provision for taxes was $1,081,000 compared to $2,748,000 a year ago. Net loss was $1,102,000 or $0.05 per basic and diluted share against $2,775,000 or $0.18 per basic and diluted share a year ago. Non-GAAP loss from operations was $213,000 compared to $1,420,000 a year ago. Non-GAAP net loss was $365,000 compared to $1,642,000 a year ago. Adjusted EBITDA was $298,000 compared to LBITDA $1,088,000 a year ago. Non-GAAP basic and diluted net loss per share was $0.02 compared to $0.10 a year ago.

For the second quarter of 2018, the Company expects revenue to increase to a range between $18.1 million and $19.0 million, which includes approximately $1.5 to $2.0 million of expected revenue contribution from S3 Semiconductors. For the second quarter, GAAP operating expenses are expected to range between $9.1 million and $9.7 million, or $8.2 million and $8.8 million on a non-GAAP basis, which excludes approximately $0.6 million in stock-based compensation expense and $0.3 million in amortization of acquisition-related intangible assets. Including results from S3 Semi, gross margin for the second quarter is expected to range between 46% and 48%. Amortization of intangible assets will be approximately $300,000, and depreciation and amortization will be approximately $500,000.