Monday, December 8, 2008

Silicon Image, HDMI technology developer, lays off 10% of work force

In an SEC filing today, Silicon Image (NASDAQ: SIMG), the developer of HDMI and related technologies, reported it was laying off about 10% of its workforce.

The entire filing reads:

On December 5, 2008, Silicon Image, Inc. (the” Registrant”) began a reduction in force of approximately 60 people, or approximately 10% of its workforce worldwide, to align its cost structure with current economic conditions.
Silicon Image's most recently filed quarterly report, for the period ended Sept. 30, 2008 indicated revenues of about $215, million for the nine months ended Sept. 30, 2008, compared to $230 million for the same period one year earlier.

Net income for the period was about $5 million in 2008 compared to $11.4 million in 2007.

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