Silicon Image’s revenue down in Q2
Silicon Image’s second-quarter revenues slipped to $37.3 million, which was down from the $40.5 million it posted in the first quarter of this year and the $70.1 million in the same quarter a year ago.
Silicon Image, whose technology and chipsets are used to distribute, secure and store high-definition content, had a non-GAAP net loss for the second quarter of $4.3 million, or 6 cents per diluted share, compared with a net loss of $3.6 million, or 5 cents per diluted share, for the first quarter of 2009. Its net income was $5 million, or 7 cents per diluted share, for the second quarter of 2008.
“As we enter the second half of 2009, we are excited about our new products that will be shipping and the progress we are making in the formation of new technology standards consortiums," said Steve Tirado, president and CEO of Silicon Image. "With our design win momentum, our goal is to achieve double-digit revenue growth in the second half of 2009 when compared to the first six months. We also expect to start to experience growing adoption of the MHL standard.”
Silicon Image, which laid off 13 percent of its total workforce in June, projected third-quarter revenues to be in the range of $44 million to $46 million.
Earlier this week, Silicon Image said it now has available silicon designs implementing the latest version of HDMI. Manufacturers of consumer electronics can incorporate the silicon in their products to enable 3D HD video.