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GigOptix (GIG) RSS Feed

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10
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Posts (Total)
235
Created
09/01/09
Type
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GigOptix, Inc. (GigOptix) is a provider of the electronic engines for the optically connected digital world and other advanced radio frequency (RF) applications. The Company focuses on the specification, design, development and sale of analog semiconductor integrated circuits (ICs), multi-chip module solutions (MCMs), polymer modulators, analog and mixed signal custom Application Specific Integrated Circuits (ASICs). The products of the Company falls into five categories: laser and modulator Driver ICs and MCMs, transimpedance and Limiting Amplifier ICs, optical modulators, broadband RF amplifiers, and custom analog and mixed signal ASICs. On November 9, 2009, the Company acquired ChipX Incorporated, a independent fabless supplier specializing in analog and mixed signal custom ASICs.

http://gigoptix.com/

 

Shares Outstanding: 9.35 million

Shares Float: 3.19 million

Current Market Cap (6/1/10): $34 million

 

Recent News:

GigOptix Announces Record Revenues for the First Quarter 2010

Q1 Revenue Totals $5.3 Million, Significant Improvement in Product Revenues

Press Release Source: GigOptix, Inc. On Monday May 10, 2010, 7:00 am EDT

PALO ALTO, Calif.--(BUSINESS WIRE)--GigOptix, Inc. (OTCBB:GGOX - News), a leading supplier of electronic and electro-optic semiconductor products for fiber-optic communications systems today announced its financial results for the first quarter ending April 4, 2010.
Dr. Avi Katz, Chairman of the Board and Chief Executive Officer of GigOptix stated, “We are very pleased to have reported record revenues of $5.3 million, in line with the high end of our guidance, driven by a significant increase in product sales which grew approximately 107% over comparable first quarter 2009 and 38% sequentially over fourth quarter 2009. During the quarter we saw increased demand across all our high speed optical market products including drivers, amplifiers, thin film polymer on silicon (TFPS) modulators, and analog mixed signal ASICs. As our current product portfolio gains traction in the industry, we continue to focus on breakthroughs with our technology pipeline. The first major event was through our alliance with Sanmina-SCI (NASDAQ: SANM - News) to manufacture our proprietary TFPS modulators. We have also successfully managed our expenses following our acquisition of ChipX, which resulted in a significant improvement in Adjusted EBITDA (defined as income or loss from operations net of depreciation, amortization, stock based compensation expense and restructuring expenses) to $(0.4) million for the quarter, compared to Adjusted EBITDA of ($0.9) million for Q1 2009, and Adjusted EBITDA of ($2.5) million for Q42009.”
Dr. Katz continued, “We recently moved to mass production and shipping of our 40Gbps receiver amplifier ICs to Tier 1 telecom OEM’s, started shipping volumes of our high performance 100G DP-QPSK drivers to a Tier 1 Telecom OEM, as well as sampling our 40Gbps and 100Gbps MZ-DPSK TFPS modulator to a number of Tier 1 customers. All three products offer meaningful advantages over current technology in the marketplace and we have positioned ourselves as an emerging leader in the 40Gbps and 100Gbps area. We have restructured and consolidated our outstanding debt into a new credit facility with Silicon Valley Bank (SVB). This new facility offers better borrowing terms and more flexibility as we continue to grow the company. We have also strengthened our teams in finance, marketing, operations and sales with talent to support our continuous growth. Today, GigOptix is launching revolutionary technology into the market at a rapid pace to serve our customers. Three years after inception we continue to demonstrate our ability to monetize the value of our organic and acquired portfolio of intellectual property by increasing customer acceptance. As market conditions continue to improve, we believe that we will see continued demand for our innovative product base and technology pipeline in all areas of telecom, datacom and consumer electronics. Further, we saw meaningful growth in first quarter 2010 compared to the fourth quarter of 2009 from our CX product line which we acquired with ChipX in November 2009. Our overall improvement in first quarter of 2010 and product revenue growth was satisfying in that our government revenues were abated while we resolved our billing issue with the government which I’m pleased to report is resolved and programs will hopefully be back on track in the second quarter.”

 

 

 

 

 

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