GigaMedia Ltd (GIGM) Reports Q2 Loss of $0.05, Comments on Outlook

GigaMedia Ltd (NASDAQ: GIGM) reported Q2 EPS of ($0.05), versus $0.00 reported last year. Revenue for the quarter came in at $2.47 million, versus $3.65 million reported last year.

Online games business

Management expects accelerating revenue growth in its online games business, with contributions from 1) new browser/mobile games; and 2) new social casino games to more than offset declines in its legacy PC games products. The company expects to launch two new mobile games in the second half of 2014. Management plans launches of two new social casino game platforms late in the second half of 2014, and a new browser-based MMO game by yearend. Management also expects to begin testing a new mobile social game platform in the second half of 2014, with operations planned to begin in 2015. The pace of future growth will be subject to the timing of these growth initiatives, as well as potential new strategic transactions, making near-term forecasts difficult.

For earnings history and earnings-related data on GigaMedia Ltd (GIGM) click here.

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