- System-on-chip provider Sigma Designs (OTC:SIGM) is off 10.9% after hours following Q4 results that missed revenue expectations after sales dropped 17%.
- EPS was in line, though the company swung to a net loss, and non-GAAP gross margin grew to 50.6% from a previous-year 49.6%. Operating expenses fell to $26M from $27.4M.
- The company's transitioning to an Internet-of-Things focus, says CEO Thinh Tran, and that will include a transition of development to lower-cost regions. The company's started a program to cut annual operating expenses by about 10% this year.
- Conference call to come at 5 p.m. ET.
- Press Release