Sigma Designs, Inc. (NASDAQ: SIGM) reported Q1 EPS of ($0.14), $0.01 better than the analyst estimate of ($0.15). Revenue for the quarter came in at $36.9 million versus the consensus estimate of $36.93 million.

Management Comment

"We achieved first quarter guidance on revenues, gross margins and operating expenses, though our results indicate that we are in a transitional period. This transition includes the deployment of our new products to both new and existing customers while our legacy products continue to decline over time. We entered this quarter with the goal of positioning ourselves for future growth and furthering the design wins in our pipeline. We feel strongly that the new products we have launched over the past six months put us in a position to secure increasing customer deployments, grow our top-line in the quarters ahead, and that our first quarter revenue represents the lowest revenue level for the foreseeable future," said Thinh Tran, President and CEO of Sigma Designs.

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