GigOptix Reports Fourth Quarter And Fiscal 2012 Financial Results

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 its fourth quarter and fiscal year 2012, which ended December 31, 2012.

Fiscal Year 2012 GAAP Results

Total revenue, which included approximately $0.9 million of previously unrecognized government contract revenue, increased 14 percent to $36.7 million from $32.3 million in fiscal 2011. Gross margin was 54 percent, up from 50 percent in the prior fiscal year. Net loss improved to $7.0 million, compared with a net loss of $14.1 million in fiscal 2011.

Fiscal Year 2012 Non-GAAP Results 1

Gross margin was 56 percent, up from 54 percent in the prior fiscal year. Net income improved to $0.4 million, compared with a net loss of $2.5 million in fiscal 2011.

Adjusted EBITDA 1 for fiscal 2012 was $3.6 million, compared with $0.3 million in fiscal 2011.

Fourth Quarter Fiscal 2012 GAAP Results

Total revenue of $7.9 million was in-line with the Company’s pre-announcement on January 9, 2013, and included approximately $0.9 million of previously unrecognized government contract revenue. This compares with revenue of $8.6 million in the fourth quarter of fiscal 2011, and $10.1 million in the third quarter of fiscal 2012.

Gross margin improved to 58 percent in the fourth quarter of fiscal 2012. This compares with 46 percent in the fourth quarter of fiscal 2011, and 52 percent in the third quarter of fiscal 2012.

Net loss was $2.1 million, or a net loss of ($0.10) per share, in the fourth quarter of fiscal 2012. This compares with a net loss of $1.8 million, or a net loss of ($0.08) per share, in the fourth quarter of fiscal 2011, and net loss of $1.5 million, or a net loss of ($0.07) per share, in the third quarter of fiscal 2012.

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