TAIPEI, Taiwan, Sept. 6, 2012 /PRNewswire/ -- GigaMedia Limited
(NASDAQ: GIGM) today provided an update to the company's
third-quarter business outlook.
GigaMedia's third-quarter business outlook is as follows:
- Net cash proceeds from sales of non-core game studio holdings
are anticipated to exceed the previous expectation.
- Consolidated revenues are expected to exceed the previous
estimate on increased revenues from the company's FunTown online
game operations.
- Gross margin is expected to be in line with the previous
estimate.
- Total operating expenses are anticipated to be in line with the
previous estimate.
- Consolidated operating loss is expected to be in line with
expectations and smaller than second-quarter results.
GigaMedia's third-quarter business outlook was provided in the
company's second-quarter results press release on August 23 and is available at
www.gigamedia.com.
About GigaMedia
Headquartered in Taipei,
Taiwan, GigaMedia Limited (Singapore registration number: 199905474H) is
a diversified provider of online games and cloud computing
services. GigaMedia's online games business develops and operates a
suite of games in Asia, with focus
on Web-based/mobile games in emerging markets. The company's cloud
computing business is focused on providing SMEs in Greater China with critical communications
services and IT solutions that increase flexibility, efficiency and
competitiveness. More information on GigaMedia can be obtained from
www.gigamedia.com.
The statements included above and elsewhere in this press
release that are not historical in nature are "forward-looking
statements" within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995. GigaMedia
cautions readers that forward-looking statements are based on the
company's current expectations and involve a number of risks and
uncertainties. Actual results may differ materially from those
contained in such forward-looking statements. Information as to
certain factors that could cause actual results to vary can be
found in GigaMedia's Annual Report on Form 20-F filed with the
United States Securities and Exchange Commission in April 2012.
For further information contact:
Brad Miller, Investor Relations
Director
Tel: +886-2-2656-8016
Brad.Miller@GigaMedia.com
SOURCE GigaMedia Limited