UPDATE: Sigma Designs Posts Narrower FQ2 Loss

Sigma Designs

posted a narrower fiscal second-quarter loss. Sigma Designs posted a quarterly loss of $13.3 million, or $0.40 per share, versus a year-ago loss of $22 million, or $0.69 per share. Excluding other items, Sigma Designs posted a adjusted loss of $0.12 per share. However, analysts were expecting a loss of $0.31 per share. Its revenue surged 46% to $68.3 million. The company in May expected revenue of $61 million to $67 million. Sigma Designs' gross margin climbed to 44.8% from 27.8%. Sigma Designs shares dropped 1.77% to $6.65 in after-hours trading.