This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

GigaMedia Preliminary 3Q13 Results: Revenues Up; Cost Cutting Continues

TAIPEI, Oct. 24, 2013 /PRNewswire/ --

3Q Preliminary Results
  • Revenues of approximately $3.8 million, up 4 percent Q-o-Q.
  • Consolidated operating expenses of approximately $6.6 million, including a non-cash impairment of $3.1 million mainly related to a legacy game development project pursued by previous management. Excluding the non-cash impairment, consolidated operating expenses were approximately $3.4 million, up 6 percent Q-o-Q, due to increased research and development expenses, which more than offset a decrease in general and administrative expenses.
  • Net loss of approximately $3.1 million, including 1) the aforementioned non-cash impairment of $3.1 million and 2) non-operating income of $1.3 million. Excluding the non-cash impairment, net income was approximately $30 thousand.
  • Cash flow from operations was nearly neutral with a net outflow of approximately $78 thousand.
  • Cash and marketable securities-current of approximately $74.3 million, or approximately $1.46 per share, up from $73.0 million at the end of 2Q13; zero debt.

GigaMedia Limited (NASDAQ: GIGM) announced today preliminary third-quarter 2013 consolidated financial results.

"In the third quarter, we made good progress in strengthening and optimizing our existing PC games business while preparing for the launch of our new mobile and browser-based games business," stated GigaMedia Limited Chief Executive Officer Collin Hwang.

"During the next several months, we will continue work on our new social casino games platform, a key part of our growth strategy," stated CEO Collin Hwang. "We will also continue reviewing several potential strategic transactions that would enable us to accelerate our growth and enhance our value."

"Overall, we are confident that we are on track to deliver improved financial performance and enhanced shareholder value in 2014," stated CEO Collin Hwang.

The financial results presented above are preliminary and subject to completion. GigaMedia's expectations with respect to these unaudited results are based on management estimates and information available at this time. As a result, these preliminary estimates may be different from the actual results that will be reflected in GigaMedia's consolidated financial statements for the third quarter of 2013 when they are released.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.64 0.00%
FB $118.57 0.00%
GOOG $698.21 0.00%
TSLA $241.80 0.00%
YHOO $36.53 0.00%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs