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Sigma Designs reports 4Q loss

FREMONT, Calif. (AP) _ Sigma Designs Inc. (SIGM) on Wednesday reported a loss of $8.7 million in its fiscal fourth quarter.

On a per-share basis, the Fremont, California-based company said it had a loss of 23 cents. Losses, adjusted for stock option expense and asset impairment costs, were 16 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 17 cents per share.

The maker of chips used for internet TV, Blu-Ray players and other media platforms posted revenue of $42.7 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $43.1 million.

For the year, the company reported a loss of $18.3 million, or 49 cents per share, swinging to a loss in the period. Revenue was reported as $220.5 million.

Sigma Designs shares have declined almost 1 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $5.95, a decline of 12 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SIGM at https://www.zacks.com/ap/SIGM


Keywords: Sigma Designs, Earnings Report