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SIGMA DESIGNS INC

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2019 10-Q, filed Jun 14, 2018. Its latest SEC filing is a SC 13G/A from Feb 12, 2020.

The sections below describe the company as of the FY2018 annual report.

What Did They Do?

Sells semiconductor chipsets and platforms for televisions, home networking and smart-home devices to equipment manufacturers and product designers.

How Did They Make Money?

Manufacturers and designers mainly pay for chipsets when the products ship. Sigma also earns occasional fees from technology licenses and Z-Wave membership dues, billed annually and earned over the membership period.

FY2018 revenue

Who Were Their Customers?

Sells mainly to equipment manufacturers and product designers, directly and through distributors; distributors typically have an order from a manufacturer before they buy. Sales also run through manufacturer representatives and resellers.

Did Revenues Turn Into Profits?

No. It lost $120M in FY2018.

Operating income, FY2018
−178% of revenue
▲ +333% (Loss) vs FY2017 (−$27.1M, −20%)
Net income, FY2018
−182% of revenue
▲ +555% (Loss) vs FY2017 (−$18.3M, −14%)

How Were They Changing?

Since the FY2018 annual report
  • Aug 3, 2018 Announces plans to delist its shares from Nasdaq The delisting is part of the liquidation plan; Sigma expected to make at least one further shareholder distribution.

Shrank. Revenue fell 67% in 4 years, from $199.2M in FY2014 to $65.9M in FY2018, about 24% a year.

Portfolio narrowed to mobile tracking Earlier, the company described smart-TV, set-top-box, home-networking and Z-Wave products. The latest report says the media connectivity, TV/set-top-box and Z-Wave units were sold, leaving Mobile IoT as its only business, focused on cellular tracking tags and modems.

Who Did They Compete With?

Competes with Broadcom, Mediatek, RealTek, ST Microelectronics, Marvell Technology Group, Qualcomm, Texas Instruments, Freescale, and Silicon Laboratories

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