This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

DSP Group, Inc. Reports Second Quarter 2013 Earnings

SAN JOSE, Calif., July 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 second quarter ended June 30, 2013.

Financial Results Highlights:
  • Q2 revenues of $40.7 million, up 3% sequentially, at high end of guidance  
  • Company achieved second consecutive quarter of positive GAAP operating income  
  • Non-GAAP gross margins of 39.9%, at the high end of guidance  
  • EBITDA increased for seventh consecutive quarter to $3.4 million, or 8% of revenues  
  • Non-GAAP net income increased to $3.5 million, reaching 9% of revenues  
  • GAAP diluted EPS of $0.03 and non-GAAP diluted EPS of $0.15 

Management Comments:

Commenting on the results, Ofer Elyakim, CEO of DSP Group, stated, "We are pleased with our second quarter financial performance, which exceeded our guidance in almost every financial metric. Our ability to maintain GAAP operating profitability, which included non-recurring proxy-related costs, is a powerful demonstration of our successful operational turnaround.

During the second quarter we continued our investments in new product initiatives, and have made important progress with key customers' projects that have reached mass shipment phase. Additionally, we secured additional important design wins across our new platforms".

Mr. Elyakim added, "We continue to focus on generating positive operating profitability, as our track record has shown, and in executing our business plan in a prudent manner as we expand our reach beyond cordless telephony products to new product lines and market domains that will bring new revenue streams to DSP Group in the longer term".

Product Highlights:
  • DSP Group secured two additional design wins for its DVF99 VoIP processor, with two leading OEMs  
  • Orange's new line of Livebox TM home gateways integrate DSP Group's DECT CAT-iq solutions  
  • Mindspeed's Comcerto 2000 network processor integrated DSP Group's DECT-ULE (Ultra Low Energy) to serve the wireless home initiative  
  • Intelbras, Latin America's market leader chose DSP Group's VoIP platform to power its IP phones  
  • DSP Group's DECT CAT-iq 2.0 SoC enables HD voice for the cable modem market with Intel's Puma-based gateways  
  • DSP Group and Sensory have jointly developed a voice activation solution for smartphones and wearable devices

2013 Second Quarter results:

GAAP Results:

Net income for the second quarter of 2013 was $750,000 on revenues of $40,692,000, compared to a net loss of $2,224,000 on revenues of $44,191,000 for the same period last year. Earnings per share for the second quarter of 2013 were $0.03 per share, as compared to a loss per share of $0.10 per share for the second quarter of 2012.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs