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CORRECTING And REPLACING -- DSP Group, Inc. Reports Fourth Quarter 2010 Earnings

SAN JOSE, Calif., Jan. 31, 2011 (GLOBE NEWSWIRE) -- In a release issued earlier today under the same headline by DSP Group, Inc. (Nasdaq:DSPG), there was an incorrect figure in the last table, the Consolidated Balance Sheets table. The "Long term marketable securities and deposits" figure for December 31, 2009, should have read 65,392 and not 5,392. The corrected release follows:

DSP Group, Inc. (Nasdaq:DSPG), a leading global provider of wireless chipset solutions for converged communications at home, announced today its results for the fourth quarter ended December 31, 2010.

Fourth Quarter Results:

Revenues for the fourth quarter of 2010 were $43,372,000, a decrease of 21% from revenues of $54,720,000 for the fourth quarter of 2009. Net loss for the fourth quarter of 2010 was $8,792,000, as compared to net loss of $2,871,000 for the fourth quarter of 2009. Loss per share for the fourth quarter of 2010 was $0.38, as compared to a loss per share of $0.13 for the fourth quarter of 2009.

Year End Results:

Revenues for the year ended December 31, 2010 were $225,482,000, an increase of 6% over 2009 revenues of $212,186,000. Net loss for 2010 was $7,425,000, compared to a net loss of $8,436,000 for 2009. Loss per share for 2010 was $0.32, compared to a loss per share of $0.36 for 2009.

Non-GAAP Results:

Non-GAAP net loss and loss per share for the fourth quarter of 2010 were $4,017,000 and $0.17, respectively, as compared to non-GAAP net income of $2,827,000 and diluted EPS of $0.12 for the fourth quarter of 2009. Non-GAAP net loss and loss per share for the fourth quarter of 2010 excluded the impact of amortization of acquired intangible assets of $2,495,000 associated with the acquisition of NXP's CIPT business; equity-based compensation expenses of $2,211,000; and restructuring expenses of $69,000 associated with the reorganization of our operations. Non-GAAP net income and diluted EPS for the fourth quarter of 2009 excluded the impact of amortization of acquired intangible assets of $3,081,000 associated with the acquisition of NXP's CIPT business and equity-based compensation expenses of $2,617,000.

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