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[posting]39769978[/posting]Quartalszahlen sind da, schauen nicht schlecht aus, die Frage ist wieviel werden die Polymermodule an Revenues in der Zukunft bringen! Press Release Source: GigOptix, Inc. On Thursday July 22, 2010, 4:36 pm EDT PALO ALTO, Calif.--(BUSINESS WIRE)--GigOptix, Inc. (OTCBB: GGOX - News), a leading supplier of electronic and electro-optic semiconductor products for fiber-optic communications systems, today announced its financial results for the second quarter ended July 4, 2010. Second Quarter Highlights: Reported record revenue of $6.3 million, an increase of 19 percent over prior quarter, 41 percent over the comparable 2009 quarter and exceeding prior guidance of 10 percent sequential growth; Achieved positive Adjusted EBITDA of more than $0.2 million; Increased revenue from 40G and 100G products by more than 200 percent sequentially; Received $2.0 million in orders for next generation 100G modulator drivers; Achieved volume shipments of its 100G driver and 100G and 40G receiver amplifiers; Began volume production of its transimpendance amplifiers (TIA); Began commercial sampling of its LX8400, a thin polymer on silicon (TFPS) 40G modulator; and Completed a public offering of $4.3 million. Management Commentary Dr. Avi Katz, Chairman of the Board and Chief Executive Officer of GigOptix, commented, “I am proud to report $6.3 million of record revenue, representing a 19 percent sequential increase in the second quarter, and our first ever positive Adjusted EBITDA quarter. This quarter represents the third consecutive quarter of sequential revenue growth that has exceeded $1.0 million per quarter. Product revenue in the second quarter was driven by a significant increase in volume shipments across all of our high speed optical markets. During the quarter, the Company also furthered its leadership position in 40G and 100G drivers and amplifiers as well as thin film polymer on silicon (TFPS) modulators, delivering a significant increase in revenue for 40G and 100G products of more than 200 percent from the preceding quarter. “Most notable, we reached volume shipments of our high performance 100G DP-QPSK driver for DWDM, a market that is expected to grow by a CAGR of 140 percent to over 16,000 systems by 2015, as forecasted by Ovum. Additionally, we recently announced that we have received more than $2.0 million in orders to supply 100G drivers in 2010 to a current leading systems customer. Being selected as the sole supplier for its 100G driver is a strong testament to our industry leading solutions and highly differentiated technology. We are unique in the marketplace in that we provide a 100G quad driver solution for use in next generation 100G DWDM networking systems, and we continue to believe this market will be a strong growth driver for GigOptix. “In early May, we also entered into mass production and volume shipments of the GX3240, a high performance 40G RZDQPSK receiver amplifier, which we developed under close collaboration with one of our tier-1 strategic telecom partners. More recently, we began high volume production of our portfolio of transimpendance amplifiers (TIA) designed to address varied requirements of Fiberchannel, Telecom and Ethernet 10G, 40G and 100G applications. “The Company also began sampling our 40G TFPS modulators, representing the first commercial sampling of a thin polymer on silicon modulator in a telecom application. This achievement underscores our industry leading design capabilities and the benefits of our manufacturing partnership with Sanmina-SCI, as we jointly ramp-up the production line in Shenzhen, China. We remain on track to be fully qualified for production of our 40G modulators in the fourth quarter of 2010. “GigOptix also received further financing in the amount of $4.5 million in government contracts to develop an On-chip Optical Interconnect. This solution combines GigOptix’ driver technology with our TFPS optical technology to realize an integrated 100G driver/modulator solution for next generation optical data communication applications up to 200G. This development activity, earmarked for an additional $5 million in government contracts expected to be received through 2011, will enable the Company’s new family of products for next generation 100G and beyond integrated driver-TFPS modulators.” Second Quarter Results Revenue for the second quarter of 2010 was $6.3 million, an increase of 41 percent over the $4.5 million in the second quarter of 2009 and a 19 percent increase over the $5.3 million in the first quarter of 2010. Second quarter 2010 revenue consisted of approximately $5.5 million in product revenue and $0.8 million from government contracts. Gross profit on a GAAP basis for the second quarter of 2010 was $3.5 million, compared to $2.7 million for the same period in 2009 and $2.6 million for the first quarter of 2010. GAAP gross margin for the period was 56 percent, compared to 60 percent during the second quarter of 2009 and 49 percent for the first quarter of 2010. The decline in the gross margin compared to the same period last year reflects contribution from lower margin CX products, an area that has been aggressively addressed by the Company since the Chip-X acquisition in an effort to return the business segment to its 60 percent target. These efforts are reflected in the sequential gross margin improvement from the first quarter of this year. Non-GAAP gross profit was $3.6 million, an increase of approximately 31 percent compared to $2.8 million in the second quarter of 2009 and an increase of 34 percent compared to the first quarter of 2010. Non-GAAP gross margin was 58 percent during the second quarter of 2010, compared to 63 percent for the same period last year and 52 percent for the first quarter of 2010. Total operating expenses on a GAAP basis for the second quarter of 2010 were $4.7 million, compared with $3.3 million for the second quarter of 2009 and $4.6 million for the first quarter of 2010. Second quarter 2010 operating expenses included $0.2 million in acquisition-related compensation charges and $0.5 million of stock-based compensation expenses. GAAP net loss for the second quarter of 2010 was $1.4 million, or ($0.15) per share on 9.4 million shares, compared with a net loss of $0.6 million, or ($0.12) per share, for the second quarter of 2009 and a net loss of $2.2 million, or ($0.23) per share, for the first quarter of 2010. The non-GAAP net loss for the second quarter of 2010 was $0.4 million, or ($0.04) per share, compared to a non-GAAP net loss of $0.1 million for the same period in 2009 and a non-GAAP net loss of $1.1 million for the first quarter of 2010. A reconciliation of GAAP results to non-GAAP results is provided in the financial statement tables following the text of this press release. Adjusted EBITDA, defined as income or loss from operations net of depreciation, amortization, stock-based compensation expense and restructuring expenses, for the second quarter of 2010 was income of $0.2 million, compared to a loss of $0.1 million for the second quarter of 2009 and a loss of $0.4 million for the first quarter of 2010. For a reconciliation of GAAP results to Adjusted EBITDA, please see table below. GigOptix ended the second quarter of 2010 with $0.8 million in cash and investments, compared to $1.7 million at the end of the first quarter of 2010. The sequential decrease in cash and investments was the result of cash primarily used to complete payments pertaining to the acquisition of ChipX and for investments in working capital in order to support the Company’s rapid revenue growth. By quarter end, GigOptix priced a public offering on July 1, 2010 and closed the transaction on July 8, 2010 for a total of $4.3 million, selling approximately 2.46 million shares to institutional investors at $1.75 per share. The Company’s financing enabled it to strengthen its balance sheet, satisfy certain covenants under its line of credit with Silicon Valley Bank, and maintain lock-ups beginning July 1, 2010 for an additional 6 months associated with the 3.5 million shares issued in the ChipX acquisition. Business Outlook Ron Shelton, GigOptix’ Chief Financial Officer, commented, “Our record revenue for the second quarter and first half of the year reflects our leading position in the market and our ability to execute on our business model. We anticipate third quarter revenue to continue to grow, increasing between 5 and 8 percent on a sequential basis. Revenue growth will be driven by continued demand for our 10G product line combined with ramping shipments of our products for the 40G and 100G markets as major network providers accelerate the conversion of their existing systems. We also expect to further improve our Adjusted EBITDA and profitability metrics as we go forward.” Financial Results Webcast / Conference Call GigOptix will host a conference call and webcast with investors today at 2:00 p.m. Pacific time (5:00 p.m. Eastern time) to discuss the second quarter 2010 financial results and the business outlook. Investors and other interested parties may access the call by dialing 1-866-730-5767 in the U.S. (1-857-350-1591 outside of the U.S.) and entering the pass code 60321362 at least 10 minutes prior to the start of the call. The conference call replay will be available beginning two hours after the call and until midnight Eastern Time on July 29, 2010. The replay dial-in number is 1-888-286-8010, and the pass code is 94465311. International callers should dial 1-617-801-6888 and enter the same pass code at the prompt. Additionally, this conference call will be broadcast live over the Internet and can be accessed by all interested parties on the Investor Relations section of the Company’s website at http://www.GigOptix.com. About GigOptix, Inc. GigOptix is a fabless manufacturer of high performance electronic and electro-optic semiconductor products that enable high speed telecommunications and data-communications networks, and leads the new component generation of 40G and 100G optical communication networks. The Company offers a broad portfolio of high speed electronic devices including polymer electro-optic modulators, modulator drivers, laser drivers and TIAs for telecom, datacom, Infiniband and consumer optical systems, covering serial and parallel communication technologies from 1G to 100G. GigOptix now also offers the widest range of mixed-signal and RF ASIC solutions in the market including Standard Cell, Hybrid and Structured ASICs targeting the Consumer, Industrial, Defense & Avionics industries. For more information, please visit http://www.GigOptix.com. Forward-Looking Statements |
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| aus der Diskussion: | Gigoptix in der Telekommunikation mit Polymernanoprodukten auf dem Weg zum Leader? |
| Autor (Datum des Eintrages): | Magnetfeldfredy (23.07.10 11:41:47) |
| Beitrag: | 51 von 150 (ID:39866603) |
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