Dialog Semiconductor Q2 Underlying Profit Declines - Quick Facts

(RTTNews) - Dialog Semiconductor Plc (DLGNF.PK, DLGS) reported that its second quarter net income was 81% below prior year at $32.4 million. Earnings per share was $0.45 compared to $2.20. Underlying earnings per share was 20% lower year-on-year to $0.69. Underlying gross margin was 50.6%, up 90bps year-on-year. The company said the increase was mainly the result of revenue mix, and continuing savings in manufacturing and overhead costs.

Second quarter revenue was significantly below prior year at $302 million mostly due to the one-off license revenue of $146 million last year, and the expected decline in licensed main PMICs. Underlying revenue was 10% below previous year.

Dialog CFO, Wissam Jabre, said: "Revenue for the second quarter exceeded our May guidance due to stronger than expected demand for tablets, notebooks and wearable products, driven by the recent global shift to a "work and learn from home" environment."

At the end of second quarter 2020, the company held cash and cash equivalents of $957 million.

For third quarter, including Adesto, the company projects: revenue to be in the range of $340 million to $380 million and underlying gross margin to be broadly in line with second quarter 2020.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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