Sigma Designs Reports Strong Earnings, Shares Surge
Semiconductor company Sigma Designs said fiscal second-quarter profit surged as sales more than double doubled.
The company said late Wednesday after the close of trading it earned $8.6 million, or 32 cents per share, compared with a profit of $216,000, or a penny a share, during the same period a year prior. Excluding charges, the company recorded earnings of 48 cents a share.
Revenue in the quarter ended Aug. 4 grew to $42.5 million from $20.1 million.
Shares of Sigma Designs surged on Thursday.
Analysts polled by Thomson Financial expected a profit of 34 cents a share on revenue of $38.9 million. Analysts typically exclude special items from their estimates.
The stock reached a 52-week high of $39.17 during the regular trading session after ranging between $11.28 and $38.24 over the past year.