Sigma Designs, Inc. Reports Second Quarter Fiscal Year 2018 Financial Results

 

SIGMA DESIGNS, INC. 
  UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 
(GAAP) 
(In thousands, except per share data) 
            
    Three months ended   Six months ended 
     July 29,
2017  
    April 29,
2017
 
    July 30,
2016  
    July 29,
2017  
    July 30,
2016  
 
                
Net revenue$  39,508  $  39,564  $  61,316  $  79,072  $  115,091  
Cost of revenue   20,688     20,940     31,734     41,628     61,508  
Gross profit   18,820     18,624     29,582     37,444     53,583  
Gross margin percent 47.6%  47.1%  48.2%  47.4%  46.6% 
            
Operating expenses:                   
 Research and development   17,993     18,169     18,836     36,162     37,991  
  Sales and marketing     5,113         5,372         5,939         10,486         11,662    
  General and administrative     4,945         5,211         4,820         10,155         9,958    
  Restructuring charges     1,723         243         -          1,966         -     
  Impairment of IP, mask sets and design tools     -          3,006         300         3,006         300    
    Total operating expenses     29,774         32,001         29,895         61,775         59,911    
                       
Loss from operations     (10,954 )       (13,377 )       (313 )       (24,331 )       (6,328 )  
Interest and other income (expense), net     (758 )       (465 )       415         (1,223 )       (336 )  
                       
(Loss) income before income taxes     (11,712 )       (13,842 )       102         (25,554 )       (6,664 )  
Provision for income taxes     965         1,017         1,824         1,982         3,156    
                       
Net loss $   (12,677 )   $   (14,859 )   $   (1,722 )   $   (27,536 )   $   (9,820 )  
                       
Net loss per share:                    
  Basic $   (0.33 )   $   (0.39 )   $   (0.05 )   $   (0.72 )   $   (0.27 )  
  Diluted $   (0.33 )   $   (0.39 )   $   (0.05 )   $   (0.72 )   $   (0.27 )  
Shares used in computing net loss per share:                    
  Basic     38,289         38,156         37,182         38,222         37,028    
  Diluted     38,289         38,156         37,182         38,222         37,028    
               

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