GigaMedia CEO Discusses Company's Share Price; Cites the Teachings of Warren Buffett (GIGM)

From GigaMedia's (GIGM) Q1 2006 earnings conference call transcript:

Arthur Wang, Chief Executive Officer

Finally, a word about our share price, which you may have noticed increased in the first quarter. Simply put, our policy as a management team is not to comment on our share price level or movement, except to say the following: We have taken careful note of the teachings of Warren Buffett and his cautionary to managements against decision making and managing a business to maximize short-term share price gains. For the past two years, we have built the new GigaMedia in a methodical step-by-step manner, restructuring our legacy business and transitioning to the high-growth, high-margin online entertainment business. Our singular focus, singular priority, and singular commitment is to build a dominant long-term market leader for which we are confident the success of our efforts will be reflected in the capital markets. We are building a new GigaMedia with growing shareholder value as its cornerstone.

GIGM 1-Yr Price Performance: