GigaMedia Ltd. announces preliminary earnings results for the fourth quarter of 2013. For the quarter the company expected revenues of approximately $3.4 million, down 11% quarter on quarter, in line with the company's guidance. The decrease reflected the end of operations in December of the game A.V.A. and a continued decline in contributions from PC-based casual games, partially offset by new contributions from the cloud computing business in the fourth quarter.

Net loss of between $30 million and $31 million, including the non-cash impairments of approximately $30 million and non-operating income of $1.2 million. Excluding the non-cash impairments, net loss was approximately $500,000. Cash flow from operations was an outflow of approximately $1.8 million, an increase from cash outflow in the third quarter of $78,000, due primarily to the following: severance payments related to headcount reductions; annual employee bonuses; and annual audit fees.