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GigaMedia Q4 Loss Narrows, But Revenues Slip

By Eric Volkman - Apr 12, 2013 at 10:20PM

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The Taiwan-based online games purveyor suffers from lower revenue, but believes it will be able to further trim expenses.

GigaMedia ( GIGM -2.38% ) results for the company's fiscal Q4 and 2012 have been released. For the quarter, revenue was $4.8 million, down by 34% from the $7.4 million in the same period the previous year. Attributable net loss, however, narrowed considerably to $15.4 million ($0.30 per diluted share) from Q4 2011's shortfall of $51.3 million ($1.01).

For the full year, top line was $27.5 million, a 20% drop from 2011's $34.4 million. As with the quarterly result, net loss contracted over that time frame, landing at $15.3 million ($0.30 per diluted share) for the year against the 2011 result of $71.2 million ($1.32).

GigaMedia also provided selected forward guidance. For its current Q1 2013, revenues are expected to further erode, by 10%-15% on a quarter-over-quarter basis, with gross margin coming in at roughly 56%. On the other hand, the company anticipates "significant decreases" in operating expenses and thus net loss compared to Q4 2012.

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