SiliconBeat

Silicon Image is implementing its third layoff in a year, according to a filing today with the SEC in which the Sunnyvale chip maker disclosed its decision last Friday to get rid of about 80 employees, or 13 percent of the 610 employees it reported having at the end of 2008.

The move is expected to cost the company between Read the rest of this entry »

Last week, Silicon Image doled out 450,000 stock options divided among  four executive and, in an unconventional twist, vesting on the lion’s share of the awards won’t take place until the fourth year, according to a regulatory filing Tuesday.

Ten percent of the restricted stock will vest on Read the rest of this entry »

Silicon Image had to file an 8-K Tuesday afternoon correcting a verbal gaffe made by its chief financial officer Robert Freeman earlier in the day.

While participating in the “Deutsche Bank Semiconductor Bus Tour,” a traveling Web cast for analysts and investors, Freeman “misstated the company’s previously announced revenue guidance for 2007,” saying that the company, which makes digital video chips, was forecasting sales for the year of between $310 million and $325 million. Not true, says the filing. The company, “expects its revenue for 2007 to range between $305 million and $315 million,” as it previously announced on Aug. 2.

Freeman, who has served as the Sunnyvale company’s CFO since 2005, also said that one “item of licensing revenue in the first quarter of 2007” was $17.5 million. That was wrong by a factor of ten. It was $1.7 million. The company felt it necessary to point out that its total “development, licensing and royalty revenues for the quarter” were actually $13.5 million.

Silicon Image shares rose 15 cents, or 3 percent, to $5.45 Tuesday before the company’s correction was filed with the SEC.

The company reported back in April that “Mr. Freeman has informed us that he intends to retire following a transition period ending not later than September 30, 2007.”

Perhaps not a moment too soon.