Sigma Designs (NASDAQ: SIGM) reported Q1 EPS of ($0.25), $0.04 worse than the analyst estimate of ($0.21). Revenue for the quarter came in at $39.6 million versus the consensus estimate of $39.4 million.

“Fiscal 2018 will be a transition year in our business as we focus our investments in our IoT solutions, which we expect to be the future growth and profit drivers for the company. In regard to our Mobile IoT business, we are entering LTE network certification, and expect to be in field trials during the summer. Furthermore, we are in the process of finalizing our new generation Z-Wave System-on-Chip, and expect to start sampling by the end of this fiscal year. This new chipset will provide low power that will allow us to enter the sensor market and expand the number of devices in the home. At the same time, in order to address customer demand, we are in the process of launching new SoC’s for the Smart TV market. While we are encouraged by the longer-term trends in our business, and how our solutions address these trends, we are taking actions to lower our expense structure,” said Thinh Tran, President and CEO of Sigma Designs, Inc.

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