News Feed Item
Silicon Image Updates Second Quarter Revenue Outlook
|By Business Wire
|July 8, 2014 04:05 PM EDT
Image (NASDAQ: SIMG), a leading provider of multimedia
connectivity solutions and services, today updated its outlook for the
quarter ending June 30, 2014.
Revenue for the second quarter is currently expected to be in the range
of $58.5 million to $60.5 million. The Company's previous guidance for
second quarter revenue was in the range of $71 million to $76 million.
Gross margin is expected to be between 59% and 60%, as compared to
previous guidance of approximately 56.5%. Non-GAAP Operating expenses
are expected to be in the range of $30 million to $32 million versus
prior guidance of approximately $32.5 million.
This updated guidance is due to lower than anticipated mobile IC
shipments in the quarter to a significant customer and the delay of
expected HDMI royalty revenue.
Silicon Image receives a portion of HDMI royalty revenue that is subject
to an agreement among the HDMI Founders. The parties are working to
finalize a new 3 year agreement starting in 2014.
"Although the quarter has been challenging, we are confident that we
will work through these items over the balance of the year," said
Camillo Martino, chief executive officer of Silicon Image. “Most
importantly, we remain committed to executing on our strategy of
expanding MHL into mid-range mobile devices and addressing the growing
60GHz wireless market for video and data which we believe is key to
growing our business and creating long-term value for shareholders.”
The company will host an investor conference call and webcast the event
at 2:00 p.m. Pacific Time today.
To access the conference call, dial 888-430-8709 or 719-325-2281 and
enter pass code 6525198. The webcast and replay will be accessible on
Silicon Image's investor relations website at http://www.SiliconImage.com.
A replay of the conference call will be available within two hours of
the conclusion of the conference call through July 30, 2014. To access
the replay, please dial 888-203-1112 or 719-457-0820 and enter pass code
Use of Non-GAAP Financial Information
Silicon Image presents and discusses gross margin, operating expenses,
net income (loss) and basic and diluted net income (loss) per share in
accordance with Generally Accepted Accounting Principles (GAAP), and on
a non-GAAP basis for informational purposes only. Silicon Image believes
that non-GAAP reporting provides meaningful information and therefore
uses non-GAAP reporting to supplement its GAAP reporting and internally
in evaluating operations, managing and monitoring performance, and
determining bonus compensation. Further, Silicon Image uses non-GAAP
information as certain non-cash charges such as amortization of
intangibles, stock based compensation, restructuring charges, business
acquisition related expenses and reversal of a subsidiary's foreign
currency translation adjustment do not reflect the cash operating
results of the business. Silicon Image has chosen to provide this
supplemental information to investors, analysts and other interested
parties to enable them to perform additional analyses of its operating
results and to illustrate the results of operations giving effect to
such non-GAAP adjustments. The non-GAAP financial information presented
herein should be considered supplemental to, and not as a substitute
for, or superior to, financial measures calculated in accordance with
About Silicon Image, Inc.
Silicon Image (NASDAQ: SIMG) is a leading provider of multimedia
connectivity solutions and services for mobile, consumer electronics and
PC markets. Silicon Image’s semiconductor and intellectual property
products feature wireless and wired technologies that deliver
connectivity across a wide array of devices in the home, office and on
the go. Silicon Image has driven the creation of the industry standards
HDMI®, DVI™, MHL® and WirelessHD®, and offers manufacturers
comprehensive standards interoperability and compliance testing services
via its wholly-owned subsidiary, Simplay Labs. For more information,
This news release contains forward-looking statements within the meaning
of federal securities laws and regulations. These forward-looking
statements include, but are not limited to, statements related to
Silicon Image's future operating results, company growth, quarterly
results, growth in profitability and further delays to completing a new
HDMI revenue allocation agreement. These forward-looking statements
involve risks and uncertainties, including the risks of uncertain
economic conditions, competition in our markets, Silicon Image's ability
to deliver financial performance in-line with its stated goals and
guidance, and other risks and uncertainties described from time to time
in Silicon Image's filings with the U.S. Securities and Exchange
Commission (SEC). These risks and uncertainties could cause the actual
results to differ materially from those anticipated by these
forward-looking statements. In addition, see the Risk Factors section of
the most recent Form 10-K and 10-Q filed by Silicon Image with the SEC.
These forward-looking statements are made on the date of this press
release, and Silicon Image assumes no obligation to update any such
Silicon Image and the Silicon Image logo are trademarks, registered
trademarks or service marks of Silicon Image, Inc. in the United States
and/or other countries. All other trademarks and registered
trademarks are the property of their respective owners in the United
States and/or other countries.
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Aug. 28, 2016 03:30 AM EDT Reads: 2,343
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years?
This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
Aug. 28, 2016 02:00 AM EDT Reads: 1,767
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions.
In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
Aug. 28, 2016 01:45 AM EDT Reads: 2,151
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market.
In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Aug. 28, 2016 01:30 AM EDT Reads: 2,085
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things.
And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Aug. 28, 2016 01:00 AM EDT Reads: 2,965
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Aug. 28, 2016 12:15 AM EDT Reads: 1,829
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location.
With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Aug. 27, 2016 11:00 PM EDT Reads: 4,000
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
Aug. 27, 2016 08:45 PM EDT Reads: 2,354
Qosmos has announced new milestones in the detection of encrypted traffic and in protocol signature coverage.
Qosmos latest software can accurately classify traffic encrypted with SSL/TLS (e.g., Google, Facebook, WhatsApp), P2P traffic (e.g., BitTorrent, MuTorrent, Vuze), and Skype, while preserving the privacy of communication content. These new classification techniques mean that traffic optimization, policy enforcement, and user experience are largely unaffected by encryption. In respect wit...
Aug. 27, 2016 08:45 PM EDT Reads: 1,779
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time.
In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, wil...
Aug. 27, 2016 06:15 PM EDT Reads: 751
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world.
Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Aug. 27, 2016 06:00 PM EDT Reads: 3,102
Enterprises have forever faced challenges surrounding the sharing of their intellectual property. Emerging cloud adoption has made it more compelling for enterprises to digitize their content, making them available over a wide variety of devices across the Internet.
In his session at 19th Cloud Expo, Santosh Ahuja, Director of Architecture at Impiger Technologies, will introduce various mechanisms provided by cloud service providers today to manage and share digital content in a secure manner....
Aug. 27, 2016 06:00 PM EDT Reads: 738
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes.
In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
Aug. 27, 2016 05:15 PM EDT Reads: 1,584
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Aug. 27, 2016 05:00 PM EDT Reads: 1,888
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
Aug. 27, 2016 04:45 PM EDT Reads: 1,640