Sigma Designs Reports Second Quarter Fiscal 2009 Results

MILPITAS, Calif. — Sigma Designs®, Inc. (NASDAQ: SIGM), a leading provider of highly integrated system-on-chip, or SoC, solutions used to deliver multimedia entertainment throughout the home, today reported financial results for its second fiscal quarter ended August 2, 2008. Revenue for the second quarter increased 2% to $58.2 million, compared to $56.9 million in the previous quarter and increased 37% compared to $42.5 million in the same period of the prior year. Net income for the second quarter increased 46% to $9.6 million or $0.35 per diluted share, compared to $6.6 million, or $0.22 per diluted share in the previous quarter and increased 12% compared to $8.6 million, or $0.32 per diluted share, in the second quarter of fiscal 2008.

Second Quarter Highlights

• Announced a joint collaboration with Monster to create advanced wireless solutions for HDMI ™ home entertainment distribution. The first fruit of the Monster/Sigma Designs partnership will be the new “Monster® Wireless Digital Express HD” system, which will use Sigma’s Wireless HDAV™ for High-Definition (HD) A/V cable replacement as well as its UWB-over-Coax technology to offer consumers an elegant “wireless and no new wires” combination solution for enjoying HD content throughout the home.
• Announced CoAir, the first ultrawideband chipset with integrated wireless, coax and gigabit Ethernet for high speed home networking. Developed for worldwide service providers, telcos and consumer electronics manufacturers, Sigma’s CoAir chipset is the only technology available in the world today that can simultaneously deliver multiple independent streams of video and data over coax cable as well as wireless.
• Announced along with Advanced Communications Co., Ltd (Adcom), that Sigma’s highly integrated SMP8654 media processors will be used to power Adcom’s IPv6 set-top boxes (STBs) currently being deployed by major telecom companies, cable providers, hotels, convenience stores, restaurants, and Karaoke centers throughout Japan. Furthermore, the companies have entered into a collaborative relationship to develop next-generation IPTV set-top boxes for the Japanese market based on Sigma’s SMP8654 media processor and Adcom’s iSense IPTV software platform solution.
• Announced, along with I-O Data, that Sigma’s industry leading SMP8634LF media processors are being used in I-O DATA’s new, updated set-top box models, the AV-LS500L and AVLS500UL.

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