GigaMedia Q4 Loss Narrows, But Revenues Slip
GigaMedia results for the company's fiscal Q4 and 2012 have been released. For the quarter, revenue was $4.8 million, down by 34% from the $7.4 million in the same period the previous year. Attributable net loss, however, narrowed considerably to $15.4 million ($0.30 per diluted share) from Q4 2011's shortfall of $51.3 million ($1.01).
For the full year, top line was $27.5 million, a 20% drop from 2011's $34.4 million. As with the quarterly result, net loss contracted over that time frame, landing at $15.3 million ($0.30 per diluted share) for the year against the 2011 result of $71.2 million ($1.32).
GigaMedia also provided selected forward guidance. For its current Q1 2013, revenues are expected to further erode, by 10%-15% on a quarter-over-quarter basis, with gross margin coming in at roughly 56%. On the other hand, the company anticipates "significant decreases" in operating expenses and thus net loss compared to Q4 2012.
The article GigaMedia Q4 Loss Narrows, But Revenues Slip originally appeared on Fool.com.Fool contributor Eric Volkman has no position in GigaMedia, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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