Sigma Designs Reports Fourth Quarter and Fiscal Year 2013 Results

MILPITAS, CA — Sigma Designs®, Inc. (NASDAQ: SIGM), a leader in connected media platforms, today reported financial results and business highlights for its fourth fiscal quarter and fiscal year ended February 2, 2013.

Net revenue for fiscal year 2013 was $216.6 million, an increase of $34.0 million, or 18.6%, from $182.6 million in the previous year. Net revenue for the fourth quarter of fiscal 2013 was $44.2 million, down $19.7 million, or 31.0%, from $63.9 million reported in the previous quarter and up $8.6 million, or 24.0%, from $35.6 million reported for the same period last year.

Recent Highlights

• We announced with Opera Software that we will team up to optimize Opera’s TV products for Sigma’s optimized Smart TV processors. As a result, Sigma-based solutions will be able to access the Opera TV Browser and the Opera TV Store, a complete HTML5-based solution for Smart TVs, available for OEMs, developers and content providers to reach millions of app-hungry users.
• We demonstrated the technology to create a 4K x 2K digital TV platform on a 55″ inch screen at the CES 2013 show. This next generation Ultra HD display technology (UHDTV), based on the company’s MEMC/FRC (Motion Estimation Motion Compensation based Frame Rate Conversion) technology, is four times the resolution of today’s high-definition televisions.
• We announced our new breakthrough CG5200 family of G.hn chipsets, which provides optimized functionality, performance and cost structure for a variety of market needs. This new family of G.hn parts also enables superior networked entertainment performance and throughput for seamless, high-quality distribution of Triple Play and IPTV over all three household wires: power line, coax and phone line.
• We announced that Comtrend has selected Sigma’s new G.hn CG5200 family of chipsets for its PowerGrid 9051s Powerline Ethernet Adapter. The technical superiority of the CG5200 gives Comtrend a competitive advantage for meeting the demands of video networking.
• We announced the launch of our EasyTV Dongle reference design, an innovative, simple and affordable solution that enables users to access multimedia content on their mobile devices (cell phones, tablets or laptops) and share it on HDMI TV sets or projectors. EasyTV is based on Sigma’s power efficient SMP8674 chip and Qualcomm Atheros’s 802.11n technology.
• We announced that Microsoft’s Smooth Streaming client technology has been integrated into Sigma’s state-of-the-art multimedia chipset solutions to deliver seamless High Definition 1080p media content.