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GSI Technology’s stock falls after company sees losses swell

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James Rogers is a Financial Columnist for MarketWatch.

GSI Technology Inc. shares GSIT, -4.36% fell 3.7% Friday after the memory specialist reported a fiscal second-quarter net loss of $4.06 million, or 16 cents a share, compared with a net loss of $3.23 million, or 13 cents a share, in the prior year’s quarter. The company has reported a net loss for more than a dozen straight quarters. GSI Technology’s revenue was $5.71 million, at the high end of the company’s guidance, compared with revenue of $8.95 million in the same period last year.

6% in the prior year’s quarter. For the fiscal third quarter, GSI Technology expects revenue of $5.4 million to $6.2 million, and a gross margin of approximately 55% to 57%. The Sunnyvale, Calif.-based small-cap company sparked meme-like buzz earlier this year, attracting attention from users posting on Reddit about GSI Technology’s efforts around AI-processor technology.

 

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