Sigma Designs Profit Crushes Estimates; Stock Up 6%

(RTTNews) - Sigma Designs Inc (SIGM), a semiconductor solutions provider, on Tuesday reported first-quarter net loss of $0.4 million or $0.01 per share compared with a loss of $9.9 million or $0.29 per share last year.

Excluding items, adjusted earnings for the quarter were $0.09 per share compared with a loss of $0.14 per share a year ago.

Revenues for the quarter were $55.9 million compared with $36.9 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.01 per share on revenues of $53.5 million for the quarter. Analysts' estimates typically exclude special items.

"Our higher revenue resulted primarily from a combination of increased customer volumes for both our Smart TV chipsets and IoT Devices. We are committed to sustaining this positive momentum," said CEO Thinh Tran.