Sigma Designs (SIGM) Tops Q3 EPS by 2c
Sigma Designs (NASDAQ: SIGM) reported Q3 EPS of $0.13, $0.02 better than the analyst estimate of $0.11. Revenue for the quarter came in at $61.6 million versus the consensus estimate of $62.59 million.
“Third quarter revenue increased for the sixth consecutive quarter led by sequential sales growth of 31 percent in our SmartTV segment. Improved gross margin in the third quarter, along with growing revenue, resulted in higher GAAP and non-GAAP net income and earnings per share compared with the prior quarter,” said Thinh Tran, President and CEO of Sigma Designs.
“On November 10, 2015, we completed the purchase of Bretelon, Inc., a developer of SoCs and software for mobile IoT applications. This transaction will be complementary to our existing IoT business, further positioning Sigma as a leader in the IoT market. We are planning to have prototypes available for sample in the first half of calendar 2016 with initial revenue in early calendar 2017,” added Mr. Tran.
For earnings history and earnings-related data on Sigma Designs (SIGM) click here.