RTTNews | Feb 18, 2021 10:05AM EST

10:04 Thursday, February 18, 2021 (RTTNews.com) - Shares of QuickLogic Corp. (QUIK) are surging over 60% on Thursday morning. QuickLogic announced it has released an Amazon-qualified reference design that empowers OEMs and ODMs to evaluate and develop their own smart hearable products quickly and easily.

QUIK is currently trading at $11.55, up $4.38 or 61.09%, on the Nasdaq. QuickLogic shares have soared nearly 175% since the beginning of the year.

This kit integrates the Alexa voice-initiated Close-Talk experience, enabling a broad set of battery-powered applications to communicate directly with Alexa for a multitude of use cases.

On February 17, QuickLogic reported fourth-quarter adjusted loss that was $0.02 wider than Wall Street analysts' estimates, while revenues also missed expectations.

Fourth-quarter loss was $2.94 million or $0.27 per share, compared to $2.93 million or $0.37 per share last year. Adjusted loss were $1.67 million or $0.15 per share for the period. Analysts projected $0.13 per share. Revenues for the quarter were $2.50 million, down from last year's $2.87 million.

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