5 March 2012

GigOptix reports record revenue after 37% growth in 2011

For full-year 2011, GigOptix Inc of San Jose, CA, USA (a fabless supplier of semiconductor and optical components including modulator and laser drivers and transimpedance amplifier ICs based on III-V materials) has reported revenue of $32.3m, up 20% on 2010’s $26.9m. However, excluding Government contract revenue of $3.8m in 2010 (14% of total revenue) and just $628,000 in 2011 (2% of total revenue), product revenue has grown by as much as 37% from $23.1m in 2010 to $31.6m in 2011.

For fourth-quarter 2011, revenue was $8.6m, up 3% on $8.4m in Q3 (all product revenue) and 6% on $8.1m a year ago (or up 31% on product revenue of $6.6m a year ago, excluding the $1.5m of Government contract revenue, which comprised 19% of total revenue). This represents a ninth quarter of sequential product revenue growth.

“The fourth quarter marked the close to a strong 2011 where GigOptix made substantial progress at growing revenue both organically and overall and in stabilizing our balance sheet,” says chairman & CEO Dr Avi Katz.

On a non-GAAP basis, net loss has been cut from $712,000 in Q3 to $414,000, although this compares with net income of $588,000 a year ago. For full-year 2011, net loss was $2.5m, up from $498,000 in 2010.

Full-year adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was down from $2.5m in 2010 to $279,000. However, although down from $1.3m a year ago, quarterly adjusted EBITDA has continued to recover, from $289,000 in Q3 to $346,000 in Q4. During 2011, cash and investments rose from just $4.5m to $16.2m.

“On the product development front, we made significant progress with our 40G and 100G products and are now addressing cutting-edge telecom and datacom market opportunities with many new products released to qualification and production in 2011,” says Katz. “We also continue to move downstream into larger-volume markets, from telecom to datacom, last-mile wireless capabilities and consumer electronics with our latest SiGe drivers and TIA production releases, and with our CMOS devices and electro-optics interface designs that we are planning to bring to the market this year,” he adds.

“We are experiencing strong demand for our optical products, and are currently bringing to market next-generation products such as our 100G TFPS modulators, and ramping production of our 40G and 100G drivers and TIAs,” continues Katz. “As an example, we have just booked an order from a tier-1 telecom lead OEM for $2.8m for our latest 100G coherent driver for long-distance communication applications, all to be delivered during the first six months of 2012,” he adds. For full-year 2012, GigOptix expects revenue growth of about 30% over 2011.

See related items:

GigOptix grows 10% in Q3 to record $8.4m revenue

GigOptix product revenue rises 8% in Q2 to record $7.6m

GigOptix’s product revenue rises 7% in Q1 to record $7.1m

GigOptix reports fifth quarter of double-digit revenue growth

GigOptix increases Q3/2010 revenue guidance

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