Sigma Designs Reports Third Quarter Fiscal 2012 Results

MILPITAS, CA — Sigma Designs®, Inc. (NASDAQ: SIGM), a world leading provider of connected media platforms, today reported financial results and business highlights for its third fiscal quarter ended October 29, 2011.

Net revenue for the third quarter of fiscal 2012 was $39.7 million, down $7.0 million, or 15%, from $46.7 million reported in the previous quarter and down $38.1 million, or 49%, from $77.8 million reported for the same period last year.

Recent Highlights

During the third quarter, we continued to make progress in many business areas:

• We achieved deployment of a new Mediaroom set-top box and have completed validation of set-top boxes from two additional OEM customers during the quarter. All three OEMs are promoting these set-top boxes for operator deployments.
• We unveiled the Sigma Designs CG2210, a new HomePlug AV chipset that delivers HD quality video across electrical wiring inside the home. We believe this home video networking solution reaches significantly more outlets and runs faster over surge protectors versus competitors while adhering to the stringent new EuP 2013 energy conservation guidelines. The CG2210 platform includes Sigma’s patented ClearPath technology positioning the new CG2210 as the most stable and reliable HomePlug AV solution on the market.
• We announced that the Verizon Home Monitoring and Control service is now available, based on Sigma’s Z-Wave technology. The system is designed to enable customers to lock doors remotely, see what is happening at home via networked cameras, and set, adjust and control lights, smart thermostats and appliances. This can all be done using just a smartphone, a computer or through their FIOS TV.
• We announced the Zonoff Z-Wave Bridge Platform which enables ZigBee based utility meters to now communicate with all Z-Wave home control technologies. These bridges expand the market for Z-Wave products by making it easy for Z-Wave to now be included in U.S.-based smart grid rollouts.