November 7, 2017 / 6:56 AM / a month ago

Dialog operating profit up on strong demand for new smartphones

FRANKFURT, Nov 7 (Reuters) - Dialog Semiconductor reported a 4 percent increase in third-quarter adjusted operating profit on Tuesday as it benefited from strong demand from makers of next-generation smartphones and other consumer electronics devices.

Dialog, which makes chips for Apple Inc and Samsung Electronics smartphones, reported underlying operating profit of $76.6 million, above average expectations of $72 million in a Reuters poll of analysts.

Revenues came in at $363 million, up 5 percent year-on-year and 2 percent above the mid-point of the company’s own guidance range of $340-$370 million.

The Anglo-German chipmaker said it expected fourth-quarter revenues to be $415-$455 million. For the full year it said gross margins would be “slightly above” 2016, up from an earlier view that margins would be broadly in line.

Dialog recently completed the acquisition of California-based Silego Technology in a deal worth up to $306 million, strengthening its position in the market for the Internet of Things. (Reporting by Douglas Busvine; Editing by Ludwig Burger)

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