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Components | July 25, 2011

Dialog reports year-on-year growth of 70%

Dialog Semiconductor exceeds Q2 guidance and reports record revenue in second quarter of $116.1 million, achieving year-on-year growth of 70%.

Q2 2011 Financial Highlights - Revenue for Q2 2011 was $116.1 million, an increase of 17.9% over the prior quarter and 69.6% over the corresponding quarter of 2010 - Q2 2011 IFRS operating profit (EBIT) was $13.1 million or 11.3% of revenue with underlying(*) operating profit of $17.1 million or 14.7% of revenue - Q2 2011 underlying(*) EBITDA(**) of $20.4 million or 17.6% of revenue, compared to $15.1 million or 22.1% in the prior year - Q2 2011 underlying(*) diluted earnings per share of 24 cents, a 25.4% increase over Q2 2010 - Increasingly confident in our ability to meet current market expectations for the full year 2011 - Earnings Accretion from SiTel already achieved in Q2 2011, ahead of schedule Commenting on the results Dialog Chief Executive, Dr Jalal Bagherli, said: 'I am pleased to report a strong second quarter for Dialog, with revenue and earnings per share exceeding expectations, again bucking the trend in what remains a challenging economic environment. Our strategy of focusing the company's technology and product portfolio on the smartphone and tablet opportunity, which remains the sweet spot within high-growth consumer markets, continues to bear fruit. At the same time, our innovation pipeline is generating a strong line-up of new and future offerings which coupled with a recently expanded portfolio including short range wireless products, underlines my confidence in Dialog's future.' Outlook For Q3 2011 we expect revenue to be in the range of $131.0 million to $136.0 million. We are increasingly confident about the revenue outlook for the full year 2011 and our ability to meet current market expectations. For Q3 2011 we expect gross margins to remain at the same level as the first half of 2011 as supply chain conditions continue to remain restricted. Against this backdrop, we expect the yield on a high volume custom product currently ramping to show gradual improvement and expect further margin improvements within the acquired SiTel business to be realised towards the end of the financial year.
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