GigOptix matches Street 4Q forecasts

GigOptix matches 4Q profit and revenue expectations

SAN JOSE, Calif. (AP) _ GigOptix Inc. (GIG) on Monday reported fourth-quarter net income of $1.5 million.

The San Jose, California-based company said it had net income of 2 cents per share. Earnings, adjusted for stock option expense and amortization costs, were 5 cents per share.

The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 5 cents per share.

The maker of semiconductor components posted revenue of $16.2 million in the period, also matching Street forecasts.

For the year, the company reported profit of $2.2 million, or 4 cents per share. Revenue was reported as $58.7 million.

In the final minutes of trading on Monday, the company's shares hit $2.71. A year ago, they were trading at $2.13.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GIG at https://www.zacks.com/ap/GIG

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Keywords: GigOptix, Earnings Report

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