"Just as Apple revolutionized the cellphone market with the iPhone, and other companies benefitted from that, we expect it will bring about a similar revolution with the iPad," DSP Group CEO Ofer Elyakim told "Globes" today, as the company released its first quarter results.
DSPG's traditional activity has been the development of chipsets for wireless telephones. Lately, the company has started supplying its new chipset, the XpandR, which, in addition to wireless communications in the home, has features such as WiFi, connection to touch screen, strong graphics and video capabilities, and other features that are part of new products, among them Tablet devices. "Devices such as iPad will do a great deal of work for us in educating the market," says Elyakim.
The company's first quarter revenue was $56.1 million, 41% up on the first quarter of 2009, and at the upper end of the company's guidance. The company made a net loss of $184 thousand, compared with a net loss of $10.7 million in the first quarter of 2009. Excluding options and write down of goodwill, the company made a net profit of $2.7 million, double market estimates. It guides for revenue of $57-63 million and a loss of $1.3 million in the second quarter; excluding non-cash expenses it expects a profit of $3.9 million.
Published by Globes [online], Israel business news - www.globes-online.com - on April 28, 2010
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