UPDATE: Sigma Designs Posts Wider-Than-Expected Q3 Loss
Sigma Designs (NASDAQ: SIGM) posted a wider-than-expected fiscal third-quarter loss.
Sigma Designs posted a quarterly loss of $39.5 million, or $1.18 per share, versus a year-ago loss of $121.6 million, or $3.78 per share. Excluding special items, it lost $0.27 per share. However, analysts were expecting a loss of $0.17 per share.
Its revenue surged 61% to $63.9 million. The company in September had expected revenue of $60 million to $64 million.
Its gross margin dropped to 39.9% from 45.3%.
Sigma Designs shares fell 2.44% to $5.51 in after-hours trading.
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