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GigOptix Announces Record Q4

PALO ALTO, Calif. — (GigOptix, Inc. (OTCBB: GGOX), a leading supplier of high performance electronic and electro-optic components that enable next generation 40G and 100G optical networks, today announced its financial results for the fourth quarter and full year ended December 31, 2010.

Fourth Quarter and 2010 Financial Highlights:

  • Reported record annual revenue of $26.9 million, an increase of 81.3 percent over $14.8 million for 2009;
  • Reported fourth quarter revenue of $8.1 million, an increase of 12.1 percent over the prior quarter and an increase of 158 percent over the fourth quarter of 2009;
  • Reported annual non-GAAP net loss of $0.5 million, compared to $6.8 million for 2009; and reported an annual GAAP loss of $4.4 million, compared to net loss of $10.0 million for 2009;
  • Achieved fourth quarter non-GAAP profitability of $0.6 million, compared to net loss of $5.2 million for 2009; and reported a fourth quarter GAAP net loss of $0.4 million, compared to $7.2 million for 2009;
  • Achieved positive annual Adjusted EBITDA of $1.9 million, compared to a negative $6.3 million in 2009;
  • Achieved positive Adjusted EBITDA for the fourth quarter of $1.2 million, representing 15 percent of revenue, compared to a loss of $5.7 million for the fourth quarter of 2009;
  • Increased GAAP gross margin to 53% in 2010 from 45% in 2009 while increasing inventory turns to 7.2 in 2010 from 4.1 in 2009;
  • Reduced annual GAAP loss per share from ($1.75) in 2009 to ($0.41) in 2010 and reduced annual non-GAAP net loss per share from ($1.19) in 2009 to ($0.05) in 2010; and
  • Reduced fourth quarter GAAP loss per share from ($0.98) in 2009 to ($0.03) in 2010 and achieved quarterly non-GAAP earnings of $0.05 in 2010 compared a net loss per share of ($0.70) during the same period of 2009. Fourth Quarter and 2010 Product Highlights:
  • Became first company to introduce Bundled Solutions for 40G and 100G applications;
  • Transferred Thin Film Polymer on Silicon (TFPS™) modulator production to contract manufacturing partner Sanmina-SCI in China and delivered industry’s first production TFPS modulator samples to Tier 1 customers in preparation for volume production ramping in 2011;
  • Launched new portfolio of ultra low power SMART ROSATM and SMART TOSATM to address short reach Datacom applications;
  • Achieved full production of 10G, 40G and 100G Transimpedance Amplifiers (TIA); and
  • Expanded 100G DWDM portfolio to include single channel, dual channel and quad channel 8Vpp Mach-Zehnder Modulator (MZM) drivers as well as single and dual channel 32Gb/s balanced linear TIAs. {complink 10892|GigOptix Inc.}
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