The increase in the revenue year over year is a result of organic growth in GigOptix telecom and the broadband businesses, and also key transactions, including the acquisition of Helix Semiconductors in January 2008 and merger with Lumera Corporation in December 2008. On an unaudited non-GAAP basis, as if the results of the above acquisitions were included from starting of 2007, revenue for 2008 would have increased by 84%, or $6.6 million to $14.5 million, compared to $7.9 million in the previous year-end.
On an unaudited non-GAAP basis, as if all acquisitions were included from starting of 2007, revenue would have increased by 100%, or $2.2 million to $4.4 million, compared to $2.2 million in the previous year-end.
I am very pleased with the growth and operating progress GigOptix made during 2008, said Avi Katz, chief executive officer of GigOptix. During the year we successfully integrated three companies while continuing to grow our top line by five to ten percent quarter over quarter. This is a testament to the world-class team that we have assembled. We intend to continue this path as we pursue organic growth while seeking additional accretive acquisitions. We believe that the current weakness in the economy may present GigOptix with opportunities to further consolidate our industry and build as a market leader in the highly fragmented space in which we compete. It is our objective to continue our strong financial performance of growing sales while closely controlling our expenses with the intention of achieving a profitable run rate by the end of the year.
