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GigaMedia Q3: Net Profit Up 24% to $12.0 Million
Last update: 7:57 a.m. EST Nov. 18, 2008
GigaMedia Limited announced today solid third-quarter results with consolidated net income climbing 24 percent year-over-year to $12.0 million from the same period of 2007, and increasing 7 percent sequentially over the second quarter of 2008, driven in part by disposal of its final legacy ISP unit.
Third-quarter 2008 non-GAAP basic and diluted earnings per share were $0.20 and $0.18, respectively, which exclude results from discontinued operations, non-cash share-based compensation expenses, and certain other non- cash write-offs.
During the third quarter, Everest Poker received one of the online gaming industry's top honors, winning the Poker Operation of the Year award for the second consecutive year at the annual eGaming Review Awards ceremony in London. The award highlights the quality and remarkable growth of Everest Poker, which continues building one of the industry's most trusted and exciting brands.
"GigaMedia performed well in the third quarter despite the normal summer slowdown and the negative affects of the Olympics on player activity," stated GigaMedia President Thomas Hui. "We look forward to continued growth in our core businesses driven by a strong lineup of new games and sponsorships."
"The financial turmoil has created many concerns, many fears," stated GigaMedia CEO Arthur Wang. "Nevertheless, the fact is we continue to run a high-growth business generating high levels of free cash flow and look to an even better 2009 supported by a strong balance sheet and cash position with no net debt."
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发表于 2008-11-19 19:03
