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Components | September 06, 2012

Sigma Design decrease net loss

Sigma Designs reported net revenue for 2Q/2013 was $68.3 million, up $28.0 million, or 70%, from $40.3 million reported in 1Q/2013 and up $21.6 million, or 46%, from $46.7 million reported for 2Q/2012.
The primary reason for the increase over the previous quarter was the addition of DTV revenues of $26.6 million as a result of the acquisition of the DTV business from Trident Microsystems.

GAAP net loss for the second quarter of fiscal 2013 was $13.3 million. This compares to GAAP net loss of $13.7 million, for the previous quarter and GAAP net loss of $22.0 million, or ($0.69) per diluted share, in the same period last year.

Non-GAAP net loss for the second quarter of fiscal 2013 was $4.1 million, or ($0.12) per diluted share. This compares to non-GAAP net loss of $8.5 million, or ($0.26) per diluted share, for the previous quarter and non-GAAP net loss of $14.0 million, or ($0.44) per diluted share, during the same period one year ago.

At the end of our second fiscal quarter of 2013, cash, cash equivalents, restricted cash and marketable securities totaled $106.4 million, or $3.19 per share outstanding, a decrease of $43.8 million, or $1.41 per share outstanding compared to the beginning of the fiscal year. This decrease was primarily due to the payment of $42.2 million for Trident's DTV assets.

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