| SIGMA DESIGNS, INC. | |||||||||||||||||||||
| UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||||||||
| (GAAP) | |||||||||||||||||||||
| (In thousands, except per share data) | |||||||||||||||||||||
| Three months ended | Six months ended | ||||||||||||||||||||
|
July 29,
2017 |
April 29,
2017 |
July 30,
2016 |
July 29,
2017 |
July 30,
2016 | |||||||||||||||||
| Net revenue | $ | 39,508 | $ | 39,564 | $ | 61,316 | $ | 79,072 | $ | 115,091 | |||||||||||
| Cost of revenue | 20,688 | 20,940 | 31,734 | 41,628 | 61,508 | ||||||||||||||||
| Gross profit | 18,820 | 18,624 | 29,582 | 37,444 | 53,583 | ||||||||||||||||
| Gross margin percent | 47.6 | % | 47.1 | % | 48.2 | % | 47.4 | % | 46.6 | % | |||||||||||
| Operating expenses: | |||||||||||||||||||||
| Research and development | 17,993 | 18,169 | 18,836 | 36,162 | 37,991 | ||||||||||||||||
| Sales and marketing | 5,113 | 5,372 | 5,939 | 10,486 | 11,662 | ||||||||||||||||
| General and administrative | 4,945 | 5,211 | 4,820 | 10,155 | 9,958 | ||||||||||||||||
| Restructuring charges | 1,723 | 243 | - | 1,966 | - | ||||||||||||||||
| Impairment of IP, mask sets and design tools | - | 3,006 | 300 | 3,006 | 300 | ||||||||||||||||
| Total operating expenses | 29,774 | 32,001 | 29,895 | 61,775 | 59,911 | ||||||||||||||||
| Loss from operations | (10,954 | ) | (13,377 | ) | (313 | ) | (24,331 | ) | (6,328 | ) | |||||||||||
| Interest and other income (expense), net | (758 | ) | (465 | ) | 415 | (1,223 | ) | (336 | ) | ||||||||||||
| (Loss) income before income taxes | (11,712 | ) | (13,842 | ) | 102 | (25,554 | ) | (6,664 | ) | ||||||||||||
| Provision for income taxes | 965 | 1,017 | 1,824 | 1,982 | 3,156 | ||||||||||||||||
| Net loss | $ | (12,677 | ) | $ | (14,859 | ) | $ | (1,722 | ) | $ | (27,536 | ) | $ | (9,820 | ) | ||||||
| Net loss per share: | |||||||||||||||||||||
| Basic | $ | (0.33 | ) | $ | (0.39 | ) | $ | (0.05 | ) | $ | (0.72 | ) | $ | (0.27 | ) | ||||||
| Diluted | $ | (0.33 | ) | $ | (0.39 | ) | $ | (0.05 | ) | $ | (0.72 | ) | $ | (0.27 | ) | ||||||
| Shares used in computing net loss per share: | |||||||||||||||||||||
| Basic | 38,289 | 38,156 | 37,182 | 38,222 | 37,028 | ||||||||||||||||
| Diluted | 38,289 | 38,156 | 37,182 | 38,222 | 37,028 | ||||||||||||||||
Sigma Designs, Inc. Reports Second Quarter Fiscal Year 2018 Financial Results
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