Wireless Chipset Company DSP Group Reports Q2 Results

DSP Group (NASDAQ:DSPG), semiconductor chipset company focused on mobile, wireless and VoIP technology announced its second quarter financial results. The company reported US$29 million in revenues for the quarter, with figures declining 5 percent year-over-year.

As quoted in the press release:

Second Quarter Financial Highlights:

• Total revenues of $29.0 million, a year-over-year decrease of 5%

• Revenues from growth initiatives of $17.8 million, a year-over-year increase of 12%, accounted for 61% of total revenues

• Unified Communications segment revenues of $8.8 million, a year-over-year decrease of 10%

• SmartVoice segment revenues of $5.3 million, a year-over-year increase of 142%

• SmartHome segment revenues of $3.6 million, a year-over-year decrease of 4%°  Cordless revenues of $11.3 million, a year-over-year decrease of 24%GAAP and non-GAAP gross margins of 49.7% and 50.1%, respectively, compared to GAAP and non-GAAP gross margins of 49.1% and 49.5%, respectively, for the second quarter of 2018

• GAAP loss per share of ($0.02) and non-GAAP diluted earnings per share of $0.07, compared to GAAP loss per share of ($0.01) and non-GAAP diluted earnings per share of $0.07, respectively, for the second quarter of 2018

• GAAP operating loss of ($1.3) million and non-GAAP operating income of $0.9 million, compared to GAAP operating loss of ($0.7) and non-GAAP operating income of $1.4 million, respectively, for the second quarter of 2018

Click here to read the full press release.