GigPeak (GIG.U) 8-K GigOptix Reports Solid Fourth Quarter and Fiscal Year 2011 Financial Results

Exhibit 99.3

GIGOPTIX, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

(Unaudited)

	As Adjusted												As Reported
	Three months ended						Nine months ended						Three months ended						Nine months ended
	October 2, 2011			%			October 2, 2011			%			October 2, 2011			%			October 2, 2011			%
Revenue
Product	$	8,363			100	%	$	23,016			97	%	$	8,363			100	%	$	23,016			97	%
Government contract		—			0	%		628			3	%		—			0	%		628			3	%
Total revenue		8,363			100	%		23,644			100	%		8,363			100	%		23,644			100	%
Cost of revenue
Product		3,709			44	%		11,158			47	%		3,709			44	%		11,158			47	%
Government contract		—						180			1	%		—						180			1	%
Total cost of revenue		3,709			44	%		11,338			48	%		3,709			44	%		11,338			48	%
Gross profit (loss)		4,654			56	%		12,306			52	%		4,654			56	%		12,306			52	%
Research and development expense		3,633			43	%		9,097			38	%		3,633			43	%		9,097			38	%
Selling, general and administrative expense		2,769			33	%		8,091			34	%		2,769			33	%		7,981			34	%
Restructuring expense		769			9	%		3,823			16	%		769			9	%		717			3	%
Merger-related expense		74			1	%		1,959			8	%		74			1	%		1,959			8	%
Special litigation-related expense		255			3	%		275			1	%		255			3	%		275			1	%
Shareholder settlement expense		—						1,064			5	%		—						1,064			5	%
Total operating expenses		7,500			90	%		24,309			103	%		7,500			90	%		21,093			89	%
Loss from operations		(2,846	)		-34	%		(12,003	)		-51	%		(2,846	)		-34	%		(8,787	)		-37	%
Interest expense		(97	)		-1	%		(240	)		-1	%		(97	)		-1	%		(240	)		-1	%
Other income (expense), net		(131	)		-2	%		(61	)		0	%		(131	)		-2	%		(61	)		0	%
Loss before provision for income taxes		(3,074	)		-37	%		(12,304	)		-52	%		(3,074	)		-37	%		(9,088	)		-38	%
Provision for income taxes		—			0	%		(12	)		0	%		—			0	%		(12	)		0	%
Net loss		(3,074	)		-37	%		(12,316	)		-52	%		(3,074	)		-37	%		(9,100	)		-38	%
Net loss per share—basic and diluted	$	(0.14	)				$	(0.78	)				$	(0.14	)				$	(0.57	)
Weighted average number of shares used in per share calculations—basic and diluted		21,511						15,888						21,511						15,888

GIGOPTIX, INC.

CONSOLIDATED BALANCE SHEETS

(In thousands)

	As  Adjusted October 2, 2011			As  Reported October 2, 2011
ASSETS
Current assets:
Cash and cash equivalents	$	9,985		$	9,985
Short-term investments		6,207			6,207
Accounts receivable, net		5,386			5,386
Inventories		2,533			2,533
Prepaid and other current assets		615			615
Total current assets		24,726			24,726
Property and equipment, net		4,855			4,855
Intangible assets, net		5,569			5,569
Goodwill		9,860			11,985
Restricted cash		258			258
Other assets		251			251
Total assets	$	45,519		$	47,644
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	4,396		$	4,396
Accrued and other current liabilities		5,476			5,366
Accrued restructuring		939			939
Line of credit and debt		1,012			1,012
Total current liabilities		11,823			11,713
Pension liabilities		219			219
Other long-term liabilities		1,246			1,246
Total liabilities		13,288			13,178
Stockholders’ Equity
Common stock, $0.001 par value; 50,000,000 shares authorized as of October 3, 2011;
21,513,784 and 12,210,264 issued and outstanding as of October 3, 2011 and
December 31, 2010, respectively.
Common stock, $0.001 par value		22			22
Additional paid-in capital		117,599			116,618
Accumulated deficit		(85,669	)		(82,453	)
Accumulated other comprehensive income		279			279
Total stockholders’ equity		32,231			34,466
Total liabilities and stockholders’ equity	$	45,519		$	47,644