Sigma Designs, Inc. Reports First Quarter Fiscal Year 2018

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