GigOptix, Inc. (NYSE MKT: GIG), a leading fabless supplier of semiconductor and optical components that enable end-to-end high speed information streaming over the network, today announced its financial results for the third quarter of fiscal 2012, which ended September 30, 2012.
Third Quarter Fiscal 2012 GAAP Results
Total revenue increased 20 percent to $10.1 million from $8.4 million in the third quarter of fiscal 2011, and increased 5 percent from $9.6 million in the second quarter of fiscal 2012.
Gross margin was 52 percent in the third quarter of fiscal 2012. This compares with 56 percent in the third quarter of fiscal 2011 and 53 percent in the second quarter of fiscal 2012.Net loss was $1.5 million, or a net loss of $0.07 per share in the third quarter of fiscal 2012. This compares with a net loss of $3.1 million, or a net loss of $0.14 per share, in the third quarter of fiscal 2011, and net loss of $1.6 million, or a net loss of $0.08 per share, in the second quarter of 2012. Cash and cash equivalents at September 30, 2012, were $12.3 million. Third Quarter Fiscal 2012 Non-GAAP Results On a non-GAAP basis 1, which excludes $253,000 in amortization of intangible assets, $1.2 million in stock-based compensation and $576,000 in special litigation-related expenses, net income for the third quarter of fiscal 2012 was $563,000, or $0.02 per diluted share. This compares with a non-GAAP net loss of $712,000 or $0.03 per share, in the third quarter of fiscal 2011, and net income of $385,000, or $0.02 per diluted share, in the second quarter of fiscal 2012. Gross margin was 54 percent, compared with 60 percent in the third quarter of fiscal 2011 and 54 percent in the second quarter of fiscal 2012.
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