GigaMedia Limited (NASDAQ:GIGM) reported its results for the second quarter. GigaMedia Ltd. is a provider of gaming software and services to the online gaming industry, and an operator of online games in Greater China, including the PRC, Taiwan, Hong Kong and Macau.

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GigaMedia Earnings Cheat Sheet for the Second Quarter

Results: Swung to a loss of $7 million (12 cents per diluted share) in the quarter. The multimedia and graphics software company had net income of $52.5 million or 87 cents per share in the year earlier quarter.

Revenue: Fell 19% to $8.8 million from the year earlier quarter.

Quoting Management: “FunTown delivered solid year-over-year growth in Taiwan and Hong Kong, with revenues up 11 percent, driven by continued strong contributions from existing games and the addition of new MMOs to our operations,” stated GigaMedia Chief Executive Officer Yichin Lee. “We have successfully broadened and diversified our revenue base and forecast continued strong results and sustained profitability in Taiwan and Hong Kong going forward.”

Competitors to Watch: Giant Interactive Group Inc (NYSE:GA), Shanda Interactive Entertainment Ltd ADR (NASDAQ:SNDA), Perfect World Co., Ltd. (NASDAQ:PWRD), Changyou.com Limited (NASDAQ:CYOU), The9 Limited (NASDAQ:NCTY), NetEase.com, Inc. (NASDAQ:NTES), and Microsoft Corporation (NASDAQ:MSFT).

Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.

(Source: Xignite Financials)

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