Sigma Designs (SIGM) Misses Q3 EPS by 10c, Miss on Revenues

Sigma Designs (NASDAQ: SIGM) reported Q3 EPS of ($0.25), $0.10 worse than the analyst estimate of ($0.15). Revenue for the quarter came in at $33.9 million versus the consensus estimate of $38.55 million.

Third Quarter Fiscal 2018 Financial Results

• Net revenue for the third quarter of fiscal 2018 was $33.9 million. This compares with net revenue of $39.5 million reported in the previous quarter, and net revenue of $62.7 million in the same period in fiscal 2017.
• GAAP gross margin in the third quarter of fiscal 2018 was 50.5%. This compares with GAAP gross margin of 47.6% in the previous quarter, and GAAP gross margin of 49.4% for the same period in fiscal 2017.
• Non-GAAP gross margin in the third quarter of fiscal 2018 was 54.7%. This compares with non-GAAP gross margin of 48.1% in the previous quarter, and non-GAAP gross margin of 51.0% for the same period in fiscal 2017.
• GAAP operating expenses in the third quarter of fiscal 2018 were $36.0 million, which includes an impairment charge of $5.5 million. This compares with GAAP operating expenses of $29.8 million in the previous quarter, and GAAP operating expenses of $28.8 million for the same period in fiscal 2017.
• Non-GAAP operating expenses in the third quarter of fiscal 2018 were $27.8 million. This compares with non-GAAP operating expenses of $26.1 million in the previous quarter, and non-GAAP operating expenses of $26.7 million for the same period in fiscal 2017.
• GAAP operating loss in the third quarter of fiscal 2018 was ($18.9) million. This compares with a GAAP operating loss of ($11.0) million in the previous quarter, and GAAP operating income of $2.2 million for the same period in fiscal 2017.
• Non-GAAP operating loss in the third quarter of fiscal 2018 was ($9.3) million. This compares with a non-GAAP operating loss of ($7.1) million in the previous quarter, and non-GAAP operating income of $5.3 million for the same period in fiscal 2017.
• GAAP net loss in the third quarter of fiscal 2018 was ($19.1) million, or ($0.49) per share. This compares with a GAAP net loss of ($12.7) million, or ($0.33) per share, in the previous quarter, and GAAP net income of $0.2 million, or $0.01 per share, for the same period in fiscal 2017.
• Non-GAAP net loss in the third quarter of fiscal 2018 was ($9.6) million, or ($0.25) per share. This compares with a non-GAAP net loss of ($8.8) million, or ($0.23) per share, in the previous quarter, and non-GAAP net income of $3.3 million, or $0.09 per diluted share, for the same period in fiscal 2017.

For earnings history and earnings-related data on Sigma Designs (SIGM) click here.

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