E-Band Sales Drive Revenues for GigOptix
SAN JOSE, Calif., May 5, 2014 — GigOptix Inc. closed the first quarter of 2014 with a net loss of $1.9 million — smaller than a year ago — but saw positive revenue growth that is expected to continue in the months ahead.
The communications components maker posted revenues of $7.4 million, up 7 percent year-over-year and above guidance of $7.2 million. High-speed communications revenue was up 16 percent, with E-band sales more than tripling compared to the first quarter of 2013. Revenue in the next quarter is expected to be in the range of $7.6 million to $7.8 million.
“We are pleased with our first quarter revenue performance in what is normally a seasonally weak quarter in many of the markets we serve,” said CEO Dr. Avi Katz. “In particular, our E-band revenue was very strong, with sales growing about 340 percent from the first quarter a year ago.”
Katz said the company has received a $1.5 million purchase order for E-band devices from a Tier 1 customer. This is expected to result in 2014 E-band revenue nearly doubling over 2013 levels.
Meanwhile, GigOptix recently partnered with Brazilian research center CPqD to develop silicon photonics applications, and expects to receive a purchase order from a Tier 1 OEM that would include first samples to be delivered by the end of the year.
GigOptix reported a net loss of $2.6 million in the first quarter of 2013 and a net loss of $1.5 million in the fourth quarter.