India, May 5 -- GigaMedia (GIGM) reported that its first quarter net loss was $0.68 million, compared to a loss of $0.90 million, a year ago. Loss per share was $0.06 compared to a loss of $0.08. Consolidated revenues was $0.86 million, up 18.5% year-over-year from $0.73 million.
"Current widespread economic uncertainty has certainly cast a long shadow on consumer sentiment, and specifically, entertainment spending. But we are confident we can ride out the disruption with our strategy of boosting the productivity of our products and services with a leaner team, and expanding customer base with effective marketing strategies," said GigaMedia CEO James Huang.
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