GigaMedia Limited (GIGM) announced preliminary fourth-quarter 2012 consolidated financial results. The company reported fourth-quarter Net loss of $2.2 million, and Revenues of approximately $4.8 million.
The company noted that it expects plans to strengthen and scale-up its cloud computing business will help drive growth and increasingly offset the challenges the company faces; namely, strong competition in the online game market and the repositioning of its online games business. The company does not expect the cloud computing business to make a contribution to operating results in the first quarter of 2013.
The company expects to receive cash proceeds in the late first/early second quarter in excess of $1 million from the sale of non-strategic assets.
The company said it expects to announce its fourth-quarter and full-year 2012 financial results, together with a discussion of new business initiatives, in the first week of April.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.