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United States

Dialog Semi Says Guidance Favourably Impacted By Apple Deal


Thursday, 9 May 2019 01:30am EDT 

May 9 (Reuters) - Dialog Semiconductor PLC ::DGAP-NEWS: DIALOG SEMICONDUCTOR REPORTS RESULTS FOR THE FIRST QUARTER ENDED 29 MARCH 2019. Q1 2019 REVENUE ABOVE THE MID-POINT OF THE GUIDANCE RANGE AT US$295 MILLION, RECORD GROSS MARGIN AND STRONG FREE CASH FLOW GENERATION..Q1 OPERATING PROFIT FELL 23 PERCENT TO 25.3 MILLION USD.Q1 REVENUE 295 MILLION USD.REVENUE OF US$295 MILLION, ABOVE MID-POINT OF MARCH GUIDANCE RANGE AND 11% BELOW Q1 2018.GROSS MARGIN AT 49.3% (Q1 2018: 46.3%) AND UNDERLYING¹ GROSS MARGIN AT 49.6% (Q1 2018: 47.2%).OPERATING PROFIT OF US$25.3 MILLION, 23% BELOW Q1 2018.DIALOG INTENDS TO INITIATE A NEW SHARE BUYBACK PROGRAM ON TERMINATION OF CURRENT TRANCHE.IN Q2 2019, WE EXPECT APPROXIMATELY US$9 MILLION OF NON-RECURRING ENGINEERING INCOME RELATING TO APPLE TRANSACTION WITHIN OTHER OPERATING INCOME.FY 2019 IFRS REVENUE AND GROSS MARGIN WILL BE FAVOURABLY IMPACTED BY LICENSE REVENUE.FY 2019 UNDERLYING REVENUE IS EXPECTED TO DECLINE FROM FY 2018 BY SINGLE DIGIT PERCENTAGE POINTS AND TO BE SECOND HALF WEIGHTED.FY 2019 UNDERLYING GROSS MARGIN IS EXPECTED TO BE ABOVE THAT ACHIEVED IN FY 2018.Q1 NET PROFIT 18.4 MILLION EUR.