GigOptix Inc (NYSEMKT:GIG) on 18th March filed its Form 10 K with the SEC. The filing which provides a consolidated view about the company’s annual operational highlights set the stock moving upwards to 11 percentage points below its 52 week high valuations. The key talking points in the filing were as follows:
Revenues Dip in 2013
From its full year operations in FY13, it had reported net losses of $1.9 million, was well below the $7 million which it had accumulated during its FY12 operations. It generated cash flows of $3.3 million. The total accumulated losses from operations since inception has risen to $96.4 million at end of 2013, as against the $94.5 million it had reported in FY12.
Gross Profits Increase in 2013
GigOptix Inc (NYSEMKT:GIG) revenue for the full year came in at $28.9 million which was a big dip when compared to $36.7 million it had reported in FY12. The revenue inflow from outside U.S has gone up 4 percent in FY13, as compared to the 72 percent it had recorded in FY12. Gross margins in Fy13 were 54% as compared to FY12 recordings of 49 percent. In FY13, GigOptix Inc (NYSEMKT:GIG) had made provisions of $220,000 for FY13 as against the $337,000 it had made provisions for in FY12.
Partners Trilled With New Certifications
The company also demonstrated its best of the breed “chipsets” which work well in tandem with its partner solutions in the first week of March. Expressing his happiness at the development, CEO of partner firm BrPhotonics, Dr. Júlio César R.F. de Oliveira has been quoted to have said that, “The live demonstration of BrPhotonics’ 100Gbps integrated TOSA at OFC this year shows the excellent results that CPqD, BrPhotonics, and GigOptix have achieved through our partnership. With silicon photonics technology and a wealth of team experience, BrPhotonics is in a great position to target higher data rates and smaller form factor reference platforms in the future.”