Gigamedia Profits Rise on Asian Sales

Profit rose to $10.7 million, or 18 cents per share, from $9.9 million, or 17 cents per share, in the 2006 fourth quarter.

Sales rose 58.5 percent to $47.7 million, compared with $30.1 million in the 2006 fourth quarter.

Analysts polled by Thomson Financial expected profit of 17 cents per share on sales of $47.6 million. Analysts typically exclude one-time items.

The company said strong growth in sales of its poker software and Asian online games were key factors during the quarter.

For fiscal 2007, the company's profit rose 26.3 percent on Asian online gaming and strong European sales of its poker software.

Profit for the year was $38.9 million, or 65 cents per share, compared with $30.8 million, or 51 cents per share, in 2006.

Sales rose 77 percent to $166.9 million from $94.3 million in 2006.

Analysts expected profit of 65 cents per share on sales of $166.7 million.

Taiwan-based Gigamedia owns a U.S-based software development company and runs numerous Chinese-language Internet sites.