Preliminary Results Point to Record Revenues for Dialog Semiconductor
Dialog Semiconductor plc announced record Q4 2013 IFRS revenue of approximately $352 million driven by stronger than anticipated demand in its Mobile Systems segment during December. This represents a 31% year on year Q4 growth with full year IFRS revenue now expected to end at approximately $903 million, representing 17% growth over FY 2012. This will result in underlying full year revenue of approximately $910 million, up 18% on full year 2012.
On 29 October 2013 Dialog Semiconductor outlined expectations for a sequential and year-on-year improvement in Q4 2013 underlying gross margin that would result in an underlying gross margin improvement for FY2013 over FY2012. Given the increased revenue reported today, the company anticipates a further positive contribution to its original underlying gross margin expectation.
Dialog expects an increase in cash and cash equivalents of approximately $29 million in Q4 2013 which includes a $10 million early debt repayment (from debt facilities as of Q3 2013:$114 million). At 31 December 2013 the company expects a cash and cash equivalent balance of approximately $186 million. The company is currently finalizing its Q4 2013 results and will publish full and audited results for the year ended 31 December 2013 on Thursday, 20 February 2014.
