Power Components

Dialog Semi Reports Momentum in PMICs, Fast-Charging and BLE

Dialog Semiconductor Plc reported the unaudited results for the second quarter ended 30 June 2017. Q2 2017 revenue of US$256 million was above the mid-point of guidance and strong revenue growth momentum into H2 2017.

All operational business segments delivered year-on-year revenue growth. And all operational business segments were profitable on an IFRS basis.

Additional Q2 2017 financial highlights included:

  • Gross margin at 46.4% and underlying1 gross margin at 47.3%, above the May guidance.
  • Operating profit of US$20.0 million, 13% below Q2 2016. Underlying1 operating profit of US$31.6 million, 5% below Q2 2016.
  • Diluted EPS of US$0.23, up 5% over Q2 2016 and underlying1 diluted EPS of US$0.36, up 6% over Q2 2016.
  • US$82.9 million returned to shareholders in Q2 2017 through the third tranche of the share buyback program.
  • Cash flow from operating activities of US$19.8 million (Q2 2016: US$13.5 million). US$643.6 million of cash and cash equivalents, US$16.5 million below 1 July 2016.

Q2 2017 operational highlights included:

  • Continued momentum and design-in engagements for custom Power Management ICs (PMICs) at leading OEMs, for next generation smartphones, tablets, computing and wearable products.
  • Increasing market interest in the company’s portfolio of differentiated and innovative charging offerings, particularly GaN ICs and RF-based wireless charging.
  • Expanded the fast charge portfolio with the launch of the first state machine-based USB Power Delivery (PD) interface IC.
  • Launched a complete wall-to-battery fast charge solution with the introduction of the new high-efficiency power converter, the DA9318.
  • Bluetooth® low energy shipments surpassed 100 million units since launch in H2 2014.

Subsequent to the end of the quarter the Company invested an additional $15.0 million in Energous, taking the total amount invested to US$25.0 million.

Commenting on the results, Dialog Chief Executive, Dr Jalal Bagherli, said: “In Q2 2017 we delivered year-on-year revenue growth and IFRS profitability across all operational business segments.

“Through focused R&D investments we continue to maintain our technical leadership and expand our technology portfolio. We enter the second half with strong momentum in our highly-integrated Power Management ICs, fast charging technologies and Bluetooth® low energy products.

“Our pipeline of design wins and the increasing market interest in innovative and differentiated charging technologies, gives me confidence in our growth prospects for the second half of the year and over the medium term.”

“Based on our current visibility, we anticipate revenue for Q3 2017 to be in the range of US$340-US$370 million.

“Good business momentum and a strong pipeline of key product launches in the second half of the year, give us confidence in expecting 2017 to be a year of good revenue growth. In line with the revenue performance, we expect gross margin for Q3 2017 and the full year 2017 to be broadly in line with the full year 2016,” concluded Bagherli.

Dialog Semiconductor plc
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