Sigma Designs, Inc. Reports First 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 
   April 29,
2017
    January 28,
2017
 
    April 30,
2016
 
 
      
Net revenue$  39,564  $  42,724  $  53,775  
Cost of revenue   20,940     21,323     29,774  
Gross profit   18,624     21,401     24,001  
Gross margin percent 47.1%  50.1%  44.6% 
        
Operating expenses:           
 Research and development   18,169     17,738     19,155  
 Sales and marketing   5,372     5,654     5,723  
 General and administrative   5,211     4,324     5,138  
 Restructuring charge   243     -      -   
 Impairment of IP, mask sets and design tools   3,006     848     -   
   Total operating expenses   32,001     28,564     30,016  
        
Loss from operations     (13,377 )       (7,163 )       (6,015 )  
Interest and other income (expense), net     (465 )       (189 )       (751 )  
               
Loss before income taxes     (13,842 )       (7,352 )       (6,766 )  
Provision for income taxes     1,017         1,364         1,332    
               
Net loss $   (14,859 )   $   (8,716 )   $   (8,098 )  
               
Net loss per share:            
  Basic $   (0.39 )   $   (0.23 )   $   (0.22 )  
  Diluted $   (0.39 )   $   (0.23 )   $   (0.22 )  
Shares used in computing net loss per share:            
  Basic     38,156         37,995         36,872    
  Diluted     38,156         37,995         36,872    
           

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