SAN JOSE, Calif., April 29, 2013 (GLOBE NEWSWIRE) -- DSP Group ®, Inc. (Nasdaq:DSPG), a leading global provider of wireless chipset solutions for converged communications, announced today its results for the first quarter ended March 31, 2013. Net income for the first quarter of 2013 was $1,172,000 on revenues of $39,650,000, compared to a net loss of $3,262,000 on revenues of $43,504,000 for the same period last year. Earnings per share for the first quarter of 2013 were $0.05, as compared to a loss per share of $0.14 for the first quarter of 2012.
- Q1 Revenues, Up 3% Sequentially and Down 9% Year over Year, Were at the High End of Guidance
- Company Achieved Milestone Returning to Positive GAAP Operating Income
- GAAP EPS of $0.05 and Non-GAAP Diluted EPS of $0.11 Both Above Consensus Expectations
- Gross Margins of 39.6% Exceeded Guidance and Improved for Sixth Consecutive Quarter
- Despite Difficult Environment, EBITDA Increased for Sixth Consecutive Quarter to $2.6 Million Reaching 7% of Revenues
- Net Cash and Cash Equivalence Balance of Approximately $120 Million