GigaMedia Ltd. reports Q2 results above the Street

Shares of GigaMedia Ltd. (Nasdaq: GIGM) are climbing ahead of the bell following news that the holding company that develops and licenses entertainment software reported second-quarter results above analyst estimates.

For the three months ended June 30, the company said revenues climbed 88% to $40.1 million, while two analysts polled by Thomson Financial were on average expecting revenues of $37.99 million. The current quarter’s top line compares with year-ago sales of $21.02 million.
   
Net income for the quarter was $10.1 million, or $0.17 per diluted share, while two analysts polled by Thomson Financial were on average expecting earnings of $0.15 per share. The company earned $0.18 per share for the same quarter last year.

Shares of GigaMedia gained $1.19, or 11.04%, to $11.99 just before the opening bell.

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