DSPG revenues Declined by 11% to $36.3 Million
3 August, 2014
Following its transition to new markets, DSPG expects to reach approximately $37 million sales in Q3.
Following its transition to new markets, the company expect to reach approximately $37 million sales in Q3.
According to its earlier forecast, DSPG Group reported in July 31 that its revenues for the second quarter ended June 30, 2014 have declined 11% to the total of $36.3 million.
Non-GAAP net income of $2.8 million, representing the ninth consecutive quarter of non-GAAP net income. The company holds Net cash and cash equivalents of $120 million.
DSP Group is a global semiconductor provider of wireless solutions. It provides a portfolio of wireless chipsets integrating digital enhanced cordless telecommunications (DECT)/ cordless advanced technology-Internet and quality (CAT-iq), DECT ultra low energy (ULE), wireless fidelity (Wi-Fi), public switched telephone network (PSTN), BoneTone voice enhancement and noise elimination, video and voice over Internet protocol (VoIP) technologies.
During the conference call following the results announcement, the management estimated better results in Q3 2014, following its transition to new markets. The company expect to reach approximately $37 million sales in Q3. Mainly due to several wins in Audio and VoIP in major customers.
The company reported that a leading OEM in China chose DVF99 SoC for its new IP Phone products. Two Tier 1 OEMs launched IP phones based on DSP Group’s VoIP SoCs, and it started mass production of the DHX91 ULE SoC, to power a Tier 1 OEM smart home ULE based system.
The most interesting development is that Cablevision has launched HD Voice services and products powered by DSP Group SoCs.