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[posting]43443404[/posting]Für mich lächerlich bewertet, Zukunft pur: Press Release GigOptix Reports Fourth Quarter and Fiscal 2012 Financial Results FY 2012 revenue of $36.7 million up 14 percent from FY 2011; Optical revenue up 60 percent over FY 2011 Non-GAAP gross margin improved to 56 percent in FY 2012 from 54 percent in FY 2011 Non-GAAP net income of $0.4 million in FY 2012 represents first year of positive annual non-GAAP net income since inception Record Adjusted EBITDA of $3.6 million in FY 2012, up from $0.3 million in FY 2011 SAN JOSE, Calif.--(BUSINESS WIRE)--Feb. 26, 2013-- GigOptix, Inc. (NYSE MKT: GIG), a leading fabless supplier of semiconductor and optical components that enable end-to-end high speed information streaming over the network, today announced its financial results for its fourth quarter and fiscal year 2012, which ended December 31, 2012. Fiscal Year 2012 GAAP Results Total revenue, which included approximately $0.9 million of previously unrecognized government contract revenue, increased 14 percent to $36.7 million from $32.3 million in fiscal 2011. Gross margin was 54 percent, up from 50 percent in the prior fiscal year. Net loss improved to $7.0 million, compared with a net loss of $14.1 million in fiscal 2011. Fiscal Year 2012 Non-GAAP Results1 Gross margin was 56 percent, up from 54 percent in the prior fiscal year. Net income improved to $0.4 million, compared with a net loss of $2.5 million in fiscal 2011. Adjusted EBITDA1 for fiscal 2012 was $3.6 million, compared with $0.3 million in fiscal 2011. Fourth Quarter Fiscal 2012 GAAP Results Total revenue of $7.9 million was in-line with the Company’s pre-announcement on January 9, 2013, and included approximately $0.9 million of previously unrecognized government contract revenue. This compares with revenue of $8.6 million in the fourth quarter of fiscal 2011, and $10.1 million in the third quarter of fiscal 2012. Gross margin improved to 58 percent in the fourth quarter of fiscal 2012. This compares with 46 percent in the fourth quarter of fiscal 2011, and 52 percent in the third quarter of fiscal 2012. Net loss was $2.1 million, or a net loss of ($0.10) per share, in the fourth quarter of fiscal 2012. This compares with a net loss of $1.8 million, or a net loss of ($0.08) per share, in the fourth quarter of fiscal 2011, and net loss of $1.5 million, or a net loss of ($0.07) per share, in the third quarter of fiscal 2012. Cash and cash equivalents at December 31, 2012, were $10.1 million. Fourth Quarter Fiscal 2012 Non-GAAP Results1 Non-GAAP net loss, which excludes approximately $0.3 million in amortization of intangible assets, $1.3 million in stock-based compensation and $0.4 million in special litigation-related expenses, was $0.1 million, or ($0.01) per share in the fourth quarter of fiscal 2012. This compares with a non-GAAP net loss of $0.4 million or ($0.02) per share, in the fourth quarter of fiscal 2011, and non-GAAPnet income of $0.6 million, or $0.02 per diluted share, in the third quarter of fiscal 2012. Non-GAAP gross margin was 60 percent, compared with 52 percent in the fourth quarter of fiscal 2011 and 54 percent in the third quarter of fiscal 2012. Adjusted EBITDA for the fourth quarter of 2012 was $0.7 million. This compares with Adjusted EBITDA of $0.3 million in the fourth quarter of fiscal 2011, and Adjusted EBITDA1 of $1.3 million in the third quarter of fiscal 2012. “Fiscal 2012 was a year of continued year-over-year financial improvement for GigOptix driven by 60 percent revenue growth in our high-speed optical telecom and datacom components business, which is the Company’s primary growth engine,” said Dr. Avi Katz, Chairman and Chief Executive Officer of GigOptix, Inc. “We also continued our industry leading investment, about 32 percent of our revenue, in the development of innovative and differentiating products, which will be a key component in our future growth. “For fiscal 2013, we are cautiously optimistic of a rebound in spending of the Carriers and OEMs in the telecom and datacom markets. While we wait for the tangible signs of this improvement, mainly in the telecom markets, we have taken appropriate actions to adjust our expenses to the current revenue rate, by lowering our cost structure while continuing to innovate and deliver new products to our serviceable and new markets. This includes investments in development of next generations for both telecom and datacom applications, and as of this quarter, introduction of products that target the consumer electronics markets, mainly for high-speed and high-resolution motion and gesture tracking products,” said Dr. Avi Katz. “We believe these actions will further strengthen our leading position within the telecom and datacom markets allowing us to take advantage of our core skills and innovation in generating businesses in the high volume consumer electronics market.” Litigation against M/A-Com Technology Solutions, Inc. (Optomai, Inc.) GigOptix continues to actively prosecute the lawsuit for misappropriation of confidential information and trade secrets against defendants M/A-COM Technology Solutions, Inc. (MACOM), MACOM’s subsidiary Optomai, Inc., and three former GigOptix employees. On January 30, 2013, GigOptix announced that in its lawsuit, the Superior Court of Santa Clara County, California held a trial setting conference on January 29, 2013. At the trial setting conference, the Superior Court scheduled the lawsuit for a two-week jury trial starting Monday, August 26, 2013. Financial Outlook “As we begin 2013, general market and economic conditions, particularly in the telecom and datacom markets, remain uncertain and forecasting our financial performance for this quarter remains difficult. The majority of the annual price reductions for the optical component part of our business fall in our first quarter, resulting in a typically softer quarter for our business,” said Curt Sacks, Senior Vice President and Chief Financial Officer of GigOptix. “With this continued lack of visibility our current expectation is that first quarter product revenue will be flat compared to the $7.1 million in the fourth quarter of 2012.” 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 fourth quarter and fiscal 2012 financial results, and the business outlook. Investors and other interested parties may access the call by dialing 1- 888-396-2369 in the U.S. (1-617-847-8710 outside of the U.S.) and entering the passcode 54142599. The conference call replay will be available beginning two hours after the call until midnight Eastern Time on March 5, 2013. The replay dial-in number is 1-888-286-8010, and the passcode is 16610081. International callers should dial 1-617-801-6888 and enter the same passcode 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. 1 Non-GAAP Measures - GigOptix reports revenue, gross margin, operating expense, operating income and net loss on a GAAP and non-GAAP basis. In addition, it reports Adjusted EBITDA. These non-GAAP measures are provided to enhance investors’ overall understanding of GigOptix financial performance. These measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to GAAP results. A reconciliation of these GAAP to non-GAAP measurements and Adjusted EBITDA for the three and twelve months ended December 31, 2012 and 2011 can be found in the “Reconciliation of GAAP to Non-GAAP Financial Information” table attached to this press release. About GigOptix, Inc. |
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| aus der Diskussion: | Gigoptix in der Telekommunikation mit Polymernanoprodukten auf dem Weg zum Leader? |
| Autor (Datum des Eintrages): | Magnetfeldfredy (26.02.13 22:27:03) |
| Beitrag: | 128 von 150 (ID:44189995) |
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