GigaMedia Second-Quarter Earnings Up

12 August 2008

The second quarter is looking up for GigaMedia Ltd., a developer and licensor of online gaming software, as its second-quarter revenue rose 31 percent to $52.5 million against $40.1 million during the comparable period last year.

According to Thomson Financial, the company, headquartered in Taipei, Taiwan, attributed the gain to an increase in its online gaming ventures in China and its growth in Europe’s poker software market.

Looking forward, GigaMedia doesn’t expect another hike in profits during the upcoming third and fourth quarter.

“Overall, in outlook for Q3 and Q4, for the third quarter we expect the seasonal slowdown and the added attractions of the Summer Olympics will result in revenues slightly lower than in Q2,” said Arthur M. Wang, the company's chief executive, in a conference call with analysts and investors today.