GigOptix Updates Fourth Quarter Fiscal 2013 Revenue Guidance Range in Connection with Needham Conference Participation
January 14 2014 - 6:30AM
Business Wire
GigOptix, Inc. (NYSE MKT: GIG), a leading supplier of advanced
high speed semiconductor components for use in Cloud connectivity,
data centers, consumer electronics links and interactive
applications, and optical and wireless communication networks,
today announced that in connection with its participation today in
the Needham Annual Growth Conference, the Company expects revenue
for the fourth quarter of fiscal 2013, ended December 31, 2013,
will be approximately $7.8 million, or up approximately 7 percent
sequentially. The Company believes that approximately 70 percent of
the fourth quarter revenue will come from its High-Speed
Communications (HSC) product line and 30 percent from its
Industrial (ASIC) product line. This preliminary revenue is above
the guidance of revenue increasing 5 percent sequentially that the
Company provided on October 28, 2013.
GigOptix cautions that its anticipated revenue results are
preliminary based on the best information currently available and
are subject to completion of the financial statements for the
fourth quarter of fiscal 2013. The Company anticipates reporting
its fourth quarter and fiscal year 2013 financial results in early
February.
Needham Conference
Participation
Date: Tuesday, January 14, 2014
Time: 2:50 p.m. Eastern Time
Location: The New York Palace Hotel - New York City
A webcast of the Needham conference presentation, along with a
downloadable copy of the presentation, will be available in the
investor relations section of the Company's website at
www.gigoptix.com.
About GigOptix, Inc.
GigOptix is a leading fabless supplier of high speed
semiconductor components that enable end-to-end information
streaming over the network and address emerging high-growth
opportunities for Cloud connectivity, datacenters and high-speed
optical and wireless networks, and the industrial, defense and
avionics industries. GigOptix offers a unique broad portfolio of
Drivers, TIAs and TFPSTM optical modulators for 40G, 100G and 400G
fiber-optic telecommunications and data-communications networks,
and high performance MMIC solutions that enable next generation
wireless microwave systems up to 90GHz. GigOptix also offers a wide
range of digital and mixed-signal ASIC solutions and enables
product lifetime extension through its GigOptix Sunset Rescue
Program.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including the bringing of products to market with full
documentation. Such statements contain words such as "will," and
"expect," or the negative thereof or comparable terminology, and
include (without limitation) statements regarding expected revenues
and completion of its financial statements for the fiscal year and
quarter just ended. Forward-looking statements involve certain
risks and uncertainties, and actual results may differ materially
from those discussed in any such statement. These risks include,
but are not limited to: the ability to recognize revenues, the
ability to extend product offerings into new areas or products, the
ability to commercialize licensed technology, unexpected
occurrences that deter the full documentation and "bring to market"
plan for products that were developed this year and last year,
trends and fluctuations in the industry, changes in demand and
purchasing volume of customers, unpredictability of suppliers, our
ability to attract and retain qualified personnel, the ability to
move product sales to production levels, the ability to compete for
client design-in opportunities, the ability to cross-sell to new
clients and to diversify, the success of product sales in new
markets or of recently produced product offerings, including
bundled product solutions, the amount of cost savings, the ability
to improve productivity, the ability to pursue and attract other
M&A opportunities, our ability to enforce intellectual property
rights, and the ability to maintain and continue relationships with
government agencies. Additional factors that could cause actual
results to differ are discussed under the heading "Risk Factors"
and in other sections of the Company's filings with the SEC, and in
the Company's other current and periodic reports filed or furnished
from time to time with the SEC. All forward-looking statements in
this press release are made as of the date hereof, based on
information available to the Company as of the date hereof, and the
Company assumes no obligation to update any forward-looking
statement.
GigOptix, Inc.Josh Nakaska, 408-522-3172Marketing
Directorjnakaska@gigoptix.comorInvestor Relations:Darrow
Associates, Inc.Jim Fanucchi, 408-404-5400ir@gigoptix.com
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