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News Breaks
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February 10, 2012
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| 05:41 EDT |  | GIGM |
| theflyonthewall.com: | GigaMedia: turnaround making progress | | GigaMedia announced initial progress in new management's plans to build a new Giga and drive shareholder value. The company's turnaround plans, driven by CEO John Stringer, are based on an explicit decision-making framework with clear objectives: effectively managing cash, maintaining the company's listing on NASDAQ, and executing a new strategic growth plan. Teams across new Giga are taking immediate, decisive and consistent action against this framework, transforming the business. As part of efforts to better manage cash, steps to improve focus and establish new KPIs are underway, all of which is expected to produce cost synergies and enhanced efficiencies. The company is currently merging its Hong Kong offices. The project is expected to be completed this month; GigaMedia headquarters will remain in Taipei, Taiwan. New management is also reassessing the roles of the company's business units. Additional details on new management's turnaround plans will be provided going forward, including on GigaMedia's fourth-quarter conference call, anticipated in the second half of March. :theflyonthewall.com |
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May 17, 2012
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| 18:03 EDT |  | GIGM |
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