3 November 2011

GigOptix grows 10% in Q3 to record $8.4m revenue

For third-quarter 2011, GigOptix Inc of San Jose, CA, USA (which supplies semiconductor and optical components including modulator and laser drivers and transimpedance amplifier ICs based on III-V materials), has reported an eighth quarter of sequential product revenue growth to a record $8.4m, up 10% on Q2’s $7.6m (exceeding guidance of 8% growth). This is also up 16% on $7.2m a year ago, or up 43% on $5.9m a year ago (excluding $1.4m of government contract revenue).

On a non-GAAP basis, after falling from 53% a year ago to 52% last quarter, gross margin has rebounded further, to 56%. After doubling from $400,000 in Q1 to $798,000 in Q2, net loss has been cut back slightly to $712,000, although this compares with net income of $337,000 a year ago. Although still down on $1m a year ago, adjusted EBITDA (cash flow, net of changes in working capital and capital expenditures) of $289,000 reverses the loss of $284,000 last quarter. Nevertheless, during the quarter cash and investments fell from $18.3m to $16.2m.

On 17 June, GigOptix completed its acquisition of San Jose-based Endwave Corp, which designs and manufactures high-frequency RF solutions and semiconductor products for the wireless mobile backhaul communications, satellite communications, electronic instruments, and defense and security markets.

“With the integration of Endwave essentially complete, we are aggressively moving forward to expand our customer base, win key design-in opportunities and move to production with global tier-1 OEMs,” comments chairman & CEO Dr Avi Katz. “We are also continuing to focus on bringing more innovative bundled solutions to market and advancing our leadership in the 40G and 100G component markets,” he adds. “We are uniquely positioned to capitalize on a large and rapidly growing market opportunity ahead," he believes. 

For fourth-quarter 2011, GigOptix expects a ninth quarter of sequential revenue growth, with product revenue up by about 5%.

See related items:

GigOptix product revenue rises 8% in Q2 to record $7.6m

GigOptix’s product revenue rises 7% in Q1 to record $7.1m

GigOptix reports fifth quarter of double-digit revenue growth

GigOptix increases Q3/2010 revenue guidance

GigOptix grows 19% sequentially to record revenue of $6.3m for Q2

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Visit: www.gigoptix.com