Loser Stock Alert - Sigma Designs (NASDAQ:SIGM) Falls Sharply On Poor Q3 Earnings

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Sigma Designs, Inc. (NASDAQ:SIGM) plunged 12.51% to $10.07 after posted quarterly results that missed Wall Street expectations due to lower IPTV demand,.

The company posted third-quarter net loss of $2.3 million, or 9 cents per share, compared with a net profit of $3.7 million, or 14 cents per share, a year earlier.

Excluding items, the company posted earnings of 9 cents a share. Revenue fell 24 percent to $35.5 million.

Analysts expected earnings of 19 cents a share, excluding exceptional items, on revenue of $46 million, according to Thomson Reuters I/B/E/S.

The company, however, said the IPTV market in general has a positive outlook and it expects to see renewed market growth next year.

The company, which recently acquired Israeli home networking chip firm CopperGate Communications for $160 million in cash and shares, expects this business to add over $10 million of quarterly revenue in the near term.

Sigma Designs, Inc. is a fabless provider of integrated system-on-chip (SoC), solutions that are used to deliver multimedia entertainment throughout the home.

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