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Dialog Semiconductor Reports Q1

KIRCHHEIM / TECK, Germany — Dialog Semiconductor plc (FWB: DLG), a provider of highly integrated innovative power management, audio and low energy short range wireless technologies, today reports results for the first quarter ended 1 April 2011.

Q1 2011 Financial Highlights (*) – Revenue for Q1 2011 was $98.5 million, a year-on-year increase of 61.2% over the corresponding first quarter of 2010.

  • Cash generated from operations was $7.6 million. Cash and cash equivalents balance at Q1 2011 quarter end was $94.3 million, a decrease of $63.9 million due to the acquisition of SiTel Semiconductor ('SiTel') for net cash of $84.5 million during the quarter
  • Q1 2011, IFRS operating profit was $8.2 million or 8.5% of revenue with underlying(**) operating profit of $13.8 million or 14.0% of revenue
  • Q1 2011 underlying(**) diluted earnings per share of 20 cents, an 81.8% increase over Q1 2010
  • On track to deliver a successful result for 2011 for the combined company (*) Financials from the acquisition of SiTel are consolidated in the following Q1 2011 results from 10 February 2011, unless otherwise stated. Given the timing of the transaction, it has not been possible to provide all disclosures required by IFRS 3 (R) as the acquisition accounting is still in the process of being finalised.

    (**) Underlying results are based on IFRS, adjusted to exclude share-based compensation charges (Q1 2011: $1.9 million; Q1 2010: $2.5 million), excluding one-time costs of $2.8 million associated with the acquisition of SiTel and excluding amortisation expenses of $0.8 million in relation to previously capitalised R&D expenses for close to end of life products from SiTel. The term 'underlying' is not defined in IFRS and therefore may not be comparable with similarly titled measures reported by other companies. Underlying measures are not intended as a substitute for, or a superior measure to, IFRS measures.

    Read the full press release.

    {complink 12485|Dialog Semiconductor plc}

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