GigaMedia Limited (GIGM) saw its loss widen to $2.17 million, or $0.20 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $0.30 million, or $0.03 a share.
Revenue during the quarter grew 22.53 percent to $2.46 million from $2.01 million in the previous year period. Gross margin for the quarter period stood at positive 57.95 percent as compared to a negative 29.81 percent for the previous year period.
Operating loss for the quarter was $0.94 million, compared with an operating loss of $5.24 million in the previous year period.
"This quarter, we are pleased to announce the efforts we put in the prior quarter generated a positive return on the revenue. The online and offline events we held not only have enhanced the Company's brand visibility but also driving more leads back to the games." stated GigaMedia Limited chief executive officer Collin Hwang.
Debt comes down significantly
GigaMedia Limited has recorded a decline in total debt over the last one year. It stood at $2.55 million as on Sep. 30, 2016, down 55.87 percent or $3.23 million from $5.78 million on Sep. 30, 2015. Gigamedia has recorded a decline in short-term debt over the last one year. It stood at $2.55 million as on Sep. 30, 2016, down 55.87 percent or $3.23 million from $5.78 million on Sep. 30, 2015.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
