GigaMedia Limited Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016; Provides Revenue Guidance for the First Quarter of 2017
For the year, operating revenues were $8,971,305 against $10,250,995 a year ago. Loss from operations was $7,130,550 against $19,994,982 a year ago. Loss from continuing operations before income taxes was $7,215,710 against $2,701,937 a year ago. Loss from continuing operations was $6,066,987 against $2,287,675 a year ago. Net loss attributable to shareholders of GigaMedia was $6,066,987 against $2,242,575 a year ago. Loss from continuing operations per basic and diluted share was $0.55 against $0.20 a year ago. Loss per basic and diluted share attributable to GigaMedia was $0.55 against $0.20 a year ago. LBITDA was $7,164,028 against $2,278,476 a year ago.
Due to the expense on sales and marketing in the fourth quarter, the management expects to see revenue growth in the first quarter of 2017.