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GigaMedia Q3 loss narrows YOY

GigaMedia Ltd. said its third-quarter normalized net income was a loss of 12 cents per share, compared with a loss of 31 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.4 million, compared with a loss of $3.4 million in the year-earlier period.

The normalized profit margin increased to negative 55.7% from negative 168.6% in the year-earlier period.

Total revenue climbed 22.5% year over year to $2.5 million from $2.0 million, and total operating expenses decreased 47.2% from the prior-year period to $3.4 million from $6.4 million.

Reported net income came to a loss of $2.2 million, or a loss of 20 cents per share, compared to a loss of $552,620, or a loss of 5 cents per share, in the prior-year period.