GigPeak (GIG.U) 8-K/A Results of Operations and Financial Condition

Exhibit 99.1

GIGOPTIX, INC.

CONSOLIDATED BALANCE SHEETS

(In thousands)

	July 3,			December 31,			Net Change
	2011			2010			$			%
ASSETS
Current assets:
Cash and cash equivalents	$	9,136		$	4,502		$	4,634			103	%
Short-term investments		9,138			—			9,138			NA
Accounts receivable, net		5,014			5,366			(352	)		(7	%)
Inventories		2,464			1,609			855			53	%
Prepaid and other current assets		613			405			208			51	%
Total current assets		26,365			11,882			14,483			122	%
Property and equipment, net		5,044			3,717			1,327			36	%
Intangible assets, net		6,026			3,861			2,165			56	%
Goodwill		11,985			7,407			4,578			62	%
Restricted cash		261			356			(95	)		(27	%)
Other assets		567			653			(86	)		(13	%)
Total assets	$	50,248		$	27,876		$	22,372			80	%
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	3,545		$	2,960		$	585			20	%
Accrued and other current liabilities		7,743			4,823			2,920			61	%
Line of credit and debt		877			3,226			(2,349	)		(73	%)
Total current liabilities		12,165			11,009			1,156			11	%
Pension liabilities		234			211			23			11	%
Other long-term liabilities		1,203			1,266			(63	)		(5	%)
Total liabilities		13,602			12,486			1,116			9	%
Stockholders’ Equity
Common stock, $0.001 par value; 50,000,000 shares authorized as of July 3, 2011; 21,505,599 and 12,210,264 issued and outstanding as of July 3, 2011 and December 31, 2010, respectively.
Common stock, $0.001 par value		21			12			9			75	%
Additional paid-in capital		115,799			88,553			27,246			31	%
Accumulated deficit		(79,379	)		(73,353	)		(6,026	)		8	%
Accumulated other comprehensive income		205			178			27			15	%
Total stockholders’ equity		36,646			15,390			21,256			138	%
Total liabilities and stockholders’ equity	$	50,248		$	27,876		$	22,372			80	%