TAIPEI, March 22, 2014 /PRNewswire/ --
4Q Preliminary Results
GigaMedia Limited (NASDAQ: GIGM) announced today preliminary fourth-quarter 2013 consolidated financial results.
"We made great progress in 2013 in building new businesses and strategically positioning ourselves for strong, long-term growth," stated GigaMedia Limited Chief Executive Officer Collin Hwang. "We refocused from PC-based games to browser/mobile and social casino games and launched a new cloud computing business."
"Momentum is now building: our cloud business reported its first revenues in the fourth quarter and recently we launched our first mobile game," stated CEO Collin Hwang. "Over the next several months, both our online games and cloud businesses will be launching new products, helping to compensate for the continued decline in our legacy PC games business."
"Our growth plans are on track and we are confident they will drive accelerating revenues and increased shareholder value in 2014 and beyond," stated CEO Collin Hwang.
The financial results presented above are preliminary and subject to completion. GigaMedia's expectations with respect to these unaudited results are based on management estimates and information available at this time. As a result, these preliminary estimates may be different from the actual results that will be reflected in GigaMedia's consolidated financial statements for the fourth quarter of 2013 when they are released.
GigaMedia expects to announce its fourth-quarter 2013 financial results, together with a discussion of new business initiatives, in early April.
About GigaMedia
Headquartered in Taipei, Taiwan, GigaMedia Limited (Singapore registration number: 199905474H) is a diversified provider of online games and cloud computing services. GigaMedia's online games business develops and operates a suite of games in Taiwan and Hong Kong, with focus on browser/mobile games and social casino games. The company's cloud computing business is focused on providing SMEs in Greater China with critical communications services and IT solutions that increase flexibility, efficiency and competitiveness. More information on GigaMedia can be obtained from www.gigamedia.com.
The statements included above and elsewhere in this press release that are not historical in nature are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. GigaMedia cautions readers that forward-looking statements are based on the company's current expectations and involve a number of risks and uncertainties. Actual results may differ materially from those contained in such forward-looking statements. Information as to certain factors that could cause actual results to vary can be found in GigaMedia's Annual Report on Form 20-F filed with the United States Securities and Exchange Commission in April 2013.
For further information contact:
Brad Miller, Investor Relations Director
Tel: +886-2-2656-8016
Brad.Miller@GigaMedia.com