GigaMedia: Latest Updates
GigaMedia – a well known Asian online game developer – is well aware of the fact that turning around its business operations is extremely important. Not only will changes help them regain footing in a crowded industry, but it will go a long way in increasing shareholder value.
In recent months, the company has suffered from falling revenue and losses that have seemed to continually grow. Late last year, GigaMedia was hit with a threat from NASDAQ Global Stock Market to delist the company if it could not boost its share price above the $1 minimum.
GigaMedia’s turnaround is being led by new CEO John Stringer along with CFO Dirk Chen. Over the next few months, the objectives of the company remain clear: execute a new growth plan while efficiently managing cash and maintaining its listing on NASDAQ.
To ensure that the company is on the right track, Stringer has already announced the merger of all Hong Kong offices by the end of February. Along with this, each business unit will be assessed to ensure focus in all the right areas.
Fortunately for GigaMedia, it appears that they are once again in the good graces of NASDAQ thanks to a stock price that has stayed above $1 for 10 straight days.
When it comes to online gaming operators in Asia, GigaMedia is an industry leader. The company operates games in many countries throughout China and Taiwan.
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