Sigma Designs Reports Second Quarter Fiscal 2010 Results

Wednesday, August 26th, 2009
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MILPITAS, Calif. — Sigma Designs®, Inc. (Nasdaq:SIGM) (“Sigma”), 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 second fiscal quarter ended August 1, 2009.

Net revenue for the second quarter was $51.3 million, relatively unchanged from $51.2 million reported in the previous quarter and down $6.9 million, or 12%, from $58.2 million reported for the same period last year.

Second Quarter and More Recent Highlights

  • Announced that the company has begun sampling its new SMP8642 media processor SoC, designed for mainstream Blu-ray players. The SMP8642, coupled with Sigma’s proven Blu-ray Profile 2.0 software suite, provides a high performance interactive experience and a cost effective architecture for competing in today’s player market.
  • Announced the availability of the company’s new SMP8652 media processor SoC. The SMP8652 is designed to provide the optimal price/performance configuration for thin client applications, which include IPTV set-top boxes (STBs), digital media adapters (DMAs), and hybrid cable/IP thin clients.
  • Announced several strategic partnerships with original design manufacturers (ODM) Alpha Networks Inc., GigaFast and Gemtek. As a result of these partnerships, each ODM will offer a reliable coax to Ethernet bridge solution at a lower cost for consumer electronics manufacturers that are looking to make home network installation easy to achieve and affordable to their customers.
  • Announced a partnership with 4Home, Inc., a leading provider of home control services, to expand the range of additional services in the home through Sigma’s set-top box reference designs. As a result of this partnership, Sigma will be able to offer set-top box suppliers an integrated home control solution, based on 4Home’s innovative software platform and the complete Z-Wave ecosystem of RF-based home control devices.
  • Announced a cooperative relationship with Entropic Communications, Inc., a leading provider of home connectivity silicon and software solutions, to develop high definition, MoCA compliant Cable TV and IPTV set-top box reference designs powered by Entropic’s EN2510 and Sigma Designs’ SMP8654.
  • Was named by FORTUNE magazine as the second fastest growing company in their 2009 “100 Fastest Growing Companies” list, an annual ranking based on three-year records of revenue growth, profit growth and total shareholder return.
  • Was selected by Standard & Poor’s to join the S&P SmallCap 600 index which will become effective as of today’s market close.

More: Earnings Release; Conference Call Transcript