GigaMedia Earnings Cheat Sheet: Loss Narrows, Revenues Still Need Work

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GigaMedia Limited (NASDAQ:GIGM) reported its results for the first quarter. GigaMedia 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 First Quarter

Results: Loss narrowed to $2.3 million (loss of 5 cents per diluted share) from $5.2 million (loss of 9 cents per share) in the same quarter a year earlier.

Revenue: Fell 19.3% to $8.4 million from the year-earlier quarter.

Quoting Management: “We made good progress in the first quarter building new Giga,” stated GigaMedia Chief Executive Officer John Stringer. “Operating results began to benefit from our aggressive steps to improve productivity and lower our cost base, and we are continuing to take strong action to align our expense to revenue ratios with leading game companies.”

Competitors to Watch: Giant Interactive Group Inc, Shanda Interactive Entertainment Ltd ADR, Perfect World Co., Ltd., Changyou.com Limited, The9 Limited, NetEase.com, Inc., and Microsoft Corporation.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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