Sigma Designs, Inc. Reports First Quarter Fiscal 2011 Results

Wednesday, May 26th, 2010 
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MILPITAS, Calif. — Sigma Designs®, Inc. (NASDAQ:SIGM), a leading provider of highly integrated system-on-chip, or SoC, solutions that are used to deliver multimedia entertainment throughout the home, today reported financial results and business highlights for its first fiscal quarter ended May 1, 2010.

Net revenue for the first quarter was $65.2 million, down $2.9 million, or 4%, from $68.1 million in the previous quarter and up $14.0 million, or 27%, from $51.2 million reported for the same period last year.

GAAP net income for the first quarter was $1.1 million, or $0.04 per diluted share. This compares to GAAP net loss of $2.8 million, or $0.09 per diluted share, for the previous quarter and GAAP net income of $2.7 million, or $0.10 per diluted share, in the first quarter one year ago.

First Quarter Highlights

  • We demonstrated a complete range of IPTV solutions at the IPTV World Forum held in London, showing how our products can be used to deliver entertainment and control throughout the digital home.
  • We announced the new CG3310M, the first complete Ethernet over Coax (EoC™) solution on a single chip. The new chip reduces the number of external components needed to deliver affordable broadband access over existing coax infrastructure, opening up new market opportunities for our OEM partners. Furthermore, we announced that our line of EoC™ products is now being deployed in with 14 different equipment makers and has won four new deployments.
  • We demonstrated four of our leading technologies at The Cable Show, which is hosted by the National Cable & Telecommunication Association (NCTA). Demonstrations included Sigma’s 8652-based thin clients, high-quality 3D video processing, HomePlug AV connectivity and Z-Wave set-top box solutions.

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