Sigma Designs, Inc. Reports Third Quarter Fiscal 2010 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 and business highlights for its third fiscal quarter ended October 31, 2009.

Net revenue for the third quarter was $35.5 million, a decrease of $15.8 million, or 31%, from $51.3 million reported in the previous quarter and down $11.3 million, or 24%, from $46.8 million reported for the same period last year.

Third Quarter and More Recent Highlights

• We jointly announced that Samsung will be delivering the SMT-E7200 line of set-top box products, based around Sigma’s 8654 media processor chip, and supporting Microsoft’s Mediaroom client. This announcement signifies the momentum building for Sigma’s SMP8650 series of media processors.
• We announced our commitment to broad scale support of the Android™ operating system on our media processor SoCs. We also announced the availability of a ported version of Android onto our Vantage development platform, which enables OEMs to move ahead with time critical design work.
• We announced the launch of our fourth generation Z-Wave architecture, the ZM4100 Series. The ZM4100 modules provide a new generation of home control capability that adds more frequencies, memory and security to open up new markets on a worldwide basis.
• Finally, we announced the acquisition of CopperGate, which will make a profound impact on our organization. We believe that the marriage of CopperGate and Sigma provides substantial benefits to our existing business, while positioning our combined company to offer superior value solutions to our customers.

More: Earnings Release; Conference Call Transcript