GigaMedia Reports $12 million Q1 Profit

14 May 2008

Online gaming operator and software developer GigaMedia has revealed a first-quarter net profit of $12.1 million, up 42 percent against $8.5 million the previous-year quarter, with earnings-per-share up 40 percent to 21 cents. Sales rose 51 percent to $54.6 million from $36.1 million, including a rise in gaming software and service revenues to $38.3 million from $26.3 million.

Chief Operating Officer Thomas T. Hui said the Nasdaq-listed company showed strongest growth in licensing its casino and poker software. Online game and service sales rose to $12.9 million from $5.5 million, as the company's FunTown casual games operation saw growth in Taiwan and Hong Kong.

GigaMedia is also the owner of Everest Poker.