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GigOptix reports record revenue of $10.4 million

Staff writer |
GigOptix announced financial results for its third quarter of fiscal year 2015, which ended September 27, 2015. GAAP total revenue in Q3 FY15 was a record $10.4 million.

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This compares with revenue of $8.5 million in Q3 FY14, and $9.8 million in Q2 FY15.

Gross margin in Q3 FY15 was a record 64 percent, and compares with 59 percent in Q3 FY14, and 63 percent in Q2 FY15.

Net income in Q3 FY15 was a record $1.0 million, or net income of $0.03 per diluted share, representing the highest GAAP quarterly net income in the Company’s history, excluding a one-time gain from a litigation settlement in Q3 FY13.

This compares with a net loss of $0.8 million, or a net loss of $0.02 per share in Q3 FY14, and net income of $0.5 million, or net income of $0.02 per diluted share in Q2 FY15.

Cash and cash equivalents as of September 27, 2015 were $35.0 million, which includes approximately $16.5 million raised through a public offering of common stock in August 2015, up from $18.4 million in Q2 FY15.

Non-GAAP results

Gross margin for Q3 FY15 was a record 66 percent, and compares with 61 percent in Q3 FY14 and 66 percent in Q2 FY15.

Net income for Q3 FY15 was a record $2.3 million, or net income of $0.06 per diluted share, representing the highest non-GAAP quarterly net income in the Company’s history.

This compares with net income of $0.7 million, or net income of $0.02 per diluted share in Q3 FY14, and net income of $2.1 million, or net income of $0.06 per diluted share in Q2 FY15.

Adjusted EBITDA for Q3 FY15 was a record $3.0 million, and represents the highest quarterly Adjusted EBITDA in the Company’s history. This compares with Adjusted EBITDA of $1.4 million in Q3 FY14, and Adjusted EBITDA of $2.8 million in Q2 FY15.


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