Sigma Designs reports third quarter fiscal 2014 results

MILPITAS, CA — Sigma Designs®, Inc. (NASDAQ: SIGM), a leader in connected media platforms, today reported financial results and business highlights for its third fiscal quarter of fiscal year 2014 ended November 2, 2013.

Net revenues for the third quarter of fiscal 2014 were $54.4 million, up $0.6 million, or 1.2%, from $53.8 million reported in the previous quarter and down $9.5 million, or 14.9%, from $63.9 million reported for the same period last year.

GAAP net loss for the third quarter of fiscal 2014 was $3.0 million, or $0.09 per share. This compares to GAAP net loss of $4.8 million, or $0.14 per share, for the previous quarter and GAAP net loss of $39.5 million, or $1.18 per share, for the same period last year.

Recent Highlights

We launched our new ARM-based chipsets for the set-top box market at the IBC show in Amsterdam. These chipsets ushers in a new era of performance, combining a high performance ARM A9 CPU with an Imagination SGX GPU, along with our premium media processing technology.

We announced a turn-key hybrid set-top box, based on a Sigma SoC and Ginga middleware, being developed by LATAM set-top box manufacturers for Argentina and other countries using ISDB-T.

We announced that a major European supplier Novabase has selected our SMP8674 media processor SoC for their next generation of small footprint hybrid set-top boxes.

We announced, along with the Z-Wave Alliance, the launch of a new certification program called Z-Wave Plus™, which is designed to help consumers easily identify products that offer the Next Gen Z-Wave platform features, such as over-the-air upgrading.

We announced that Portugal Telecom successfully completed their field trial using G.hn to deliver HD services to multiple rooms in actual homes using Sigma’s G.hn chipset.

We announced an expansion of our conditional access portfolio with the addition of Verimatrix Advanced Security support for our set-top box SoC family.