October did not start exactly great for GigOptix Inc. (OTC:GGOX). In fact, it started with the lowest share price in the last 30 months. The next few weeks, however, were ones of optimism, although not of much trading activity, except for this Thursday. Yesterday was a different session, and it is interesting to see how October would end for GGOX. 
So, back to $1.80 per share. Almost 1.8, actually, as the last session closed at $1.76 per share. The trading volume, however, was a little less than 400k, which is considerably higher than all the previous sessions in October. The main reason for that – a press release came out. An announcement from the company about the completion of a reliability qualification for its Mach-Zehnder Modulators (MZM) that are implemented using GigOptix’s proprietary Thin Film Polymer on Silicon (TFPS(TM)) technology. In terms, shorters also had a busy day as 122k shares were traded as a result of short-selling activity.
As mentioned, it is interesting to see whether this last optimistic run would be a lasting one. One way to sustain it might be by releasing good financial figures. The next quarter ends in a few days, though it would still be several weeks before the next 10-Q is in place. In the meantime, traders are left with results from the one with an end-date July 3rd which includes the following; [BANNER]
- $9.1 million in cash;
- $50.2 million in total assets;
- $13.6 million in total liabilities;
- $79.3 million in accumulated deficit;
- $7.6 million in revenue;
- $2.5 million in net loss;
Not exactly inspiring figures, yet not too bad, either. If GigOptix manages to show some net profit soon, it would no doubt have a sound effect on the share price. If, however, results do not differ much from the above, there would still be a level of uncertainty which not all investors might be comfortable with.
