DSP Group, Inc. Reports Fourth Quarter 2012 Results

SAN JOSE, Calif., Jan. 30, 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 fourth quarter ended December 31, 2012.

Fourth Quarter Results:

Revenues for the fourth quarter of 2012 were $38,428,000, an increase of 1% from revenues of $38,195,000 for the fourth quarter of 2011. Net loss for the fourth quarter of 2012 was $139,000, as compared to net loss of $4,823,000 for the fourth quarter of 2011. Loss per share for the fourth quarter of 2012 was $0.01, as compared to a loss per share of $0.21 for the fourth quarter of 2011.

Year End Results:

Revenues for the year ended December 31, 2012 were $162,790,000, a decrease of 16% over 2011 revenues of $193,861,000. Net loss for 2012 was $8,042,000, compared to a net loss of $16,242,000 for 2011. Loss per share for 2012 was $0.37, compared to a loss per share of $0.70 for 2011.

Non-GAAP Results:

Non-GAAP net income and diluted EPS for the fourth quarter of 2012 were $1,324,000 and $0.06, respectively, as compared to non-GAAP net loss and loss per share of $4,264,000 and $0.19, respectively, for the fourth quarter of 2011. Non-GAAP net income and diluted EPS for the fourth quarter of 2012 excluded the impact of amortization of acquired intangible assets of $531,000 associated with the acquisitions of NXP's CIPT business and BoneTone and equity-based compensation expenses of $932,000. Non-GAAP net loss and loss per share for the fourth quarter of 2011 excluded the impact of amortization of acquired intangible assets of $1,381,000 associated with the acquisition of NXP's CIPT business; equity-based compensation expenses of $1,156,000; other income from remeasurement of our initial investment in an affiliated company of $1,343,000; and a tax benefit of $635,000 resulting from the reversal of an income tax contingency reserve that was determined to be no longer needed due to the expiration of applicable statute of limitations.

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