Sigma Designs, Inc. Reports First Quarter Fiscal Year 2018

Sigma Designs, Inc. Reports First Quarter Fiscal Year 2018 Financial Results

SIGMA DESIGNS, INC.
RECONCILIATION OF GAAP NET LOSS TO NON-GAAP NET LOSS
(Unaudited)
(In thousands, except per share data)

		Three months ended
		April 29,			January 28,			April 30,
			2017			2017			2016

GAAP Net Revenue		$	39,564		$	42,724		$	53,775
Items reconciling GAAP Net Revenue to Non-GAAP:
	Reversal of rebate		-			-			-
	GAAP to Non-GAAP adjustments		-			-			-
	Non-GAAP Net Revenue	$	39,564		$	42,724		$	53,775

GAAP Cost of Revenue		$	20,940		$	21,323		$	29,774
Items reconciling GAAP Cost of Revenue to Non-GAAP:
	Stock based compensation expense		(57	)		(55	)		(104	)
	Amortization of acquired intangibles		(145	)		(145	)		(949	)
	GAAP to Non-GAAP adjustments		(202	)		(200	)		(1,053	)
	Non-GAAP Cost of Revenue	$	20,738		$	21,123		$	28,721

	GAAP Gross Profit	$	18,624		$	21,401		$	24,001
	GAAP Gross Margin %		47.1	%		50.1	%		44.6	%
	Non-GAAP Gross Profit	$	18,826		$	21,601		$	25,054
	Non-GAAP Gross Margin %		47.6	%		50.6	%		46.6	%

GAAP Operating Expenses		$	32,001		$	28,564		$	30,016
Items reconciling GAAP Operating Expenses to Non-GAAP:
	Stock based compensation expense		(1,472	)		(1,314	)		(1,788	)
	Amortization of acquired intangibles		(431	)		(430	)		(699	)
	Impairment of IP, mask sets and design tools		(3,006	)		(848	)		-
	One time legal fee expenses		(139	)		11			(11	)
	Restructuring charges		(243	)		-			-
	GAAP to Non-GAAP adjustments		(5,291	)		(2,581	)		(2,498	)
	Non-GAAP Operating Expenses	$	26,710		$	25,983		$	27,518

GAAP Other Income (Expense) and Tax		$	(1,482	)	$	(1,553	)	$	(2,083	)
Items reconciling GAAP Other Income (Expense) and Tax to Non-GAAP:
	Impairment (gain on sale) of privately held instruments, net		-			-			300
	GAAP to Non-GAAP adjustments		-			-			300
	Non-GAAP Other Income (Expense) and Tax	$	(1,482	)	$	(1,553	)	$	(1,783	)

Non-GAAP Net loss		$	(9,366	)	$	(5,935	)	$	(4,247	)

Non-GAAP Net loss per share:
	Basic	$	(0.25	)	$	(0.16	)	$	(0.12	)
	Diluted	$	(0.25	)	$	(0.16	)	$	(0.12	)
Shares used in computing Non-GAAP net loss per share:
	Basic		38,156			37,995			36,872
	Diluted		38,156			37,995			36,872

 Investor  Relations  Contacts:					                                                            	
Jim  Fanucchi
Darrow  Associates,  Inc.
(408)  404-5400
IR@sigmadesigns.com

Elias  Nader,  CFO  and  Corporate  Secretary
Sigma  Designs,  Inc.
IR@sigmadesigns.com

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