March 04, 2009
Sigma Designs logs profit, sees stabilizing demand
SAN FRANCISCO—Media processor IC specialist Sigma Designs Inc. posted a GAAP net income of $6.6 million, or 24 cents per diluted share, on revenue of $47.3 million for the quarter ended Jan. 31, the company said Wednesday (March 4).
Net income was up sequentially from $3.7 million (14 cents per diluted share) in the prior quarter but down from $35.3 million ($1.19 per share) in the year-ago quarter, Sigma Designs (Milpitas, Calif.) said.
Revenue for the quarter increased from $46.8 million in the prior quarter but was down compared with the year-ago quarter, when the company reported revenue of $76.4 million.
"We are pleased to report a slight sequential increase in our revenue for the fourth quarter, which we feel is a sign of stabilizing demand in our primary markets," said Thinh Tran, chairman and CEO of Sigma Designs, in a statement. "
Non-GAAP net income in the fourth quarter was $10.1 million, or 38 cents per diluted share Sigma Designs said.
Sigma Designs' fiscal 2009 revenue was $209.2 million, down 5 percent from fiscal 2008, the company said. GAAP net income for fiscal 2009 was $26.4 million, or 95 cents per diluted share, down from $70.2 million, or $2.46 per diluted share, for fiscal 2008, the company said.
"We are continuing to place every effort on bolstering sales and expanding the scope of our demand generation activities," Tran said.
Sigma Designs did not provide an outlook for the current quarter.
