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Shares in DSP Group Inc. (Nasdaq: DSPG) are up nearly 6.5% in New York at $6.09, following the release today of the company's fourth quarter 2011 financials and guidance for 2012.
The company, which provides wireless chipset solutions for domestic communications, had fourth quarter revenue of $38.2 million, 12% less than the revenue of $43.4 million for the fourth quarter of 2010. It made a net loss for the fourth quarter of 2011 of $4.8 million, compared with a net loss of $8.8 million in the fourth quarter of 2010. The loss per share for the fourth quarter of 2011 was $0.21, compared with $0.38 for the fourth quarter of 2010.
Revenue for the full year 2011 was $193.9 million, 14% less than the 2010 revenue of $225.5 million. The net loss for 2011 was $16.2 million, compared with a net loss of $7.4 million for 2010. The loss per share for 2011 was $0.70, compared with $0.32 for 2010.
On a non-GAAP basis, DSP Group lost $4.3 million in the fourth quarter of 2011, or $0.19 per share, compared with a net loss $4 million, or $0.17 per share, in the corresponding period. The non-GAAP net loss for the full year 2011 was $4.2 million, or $0.18 per share, compared with a net profit of $9.5 million, or $0.40 per share, in 2010.
DSP Group CEO Ofer Elyakim said, "Our fourth quarter results were better than previously expected ending what has been a challenging year for DSP Group on a positive note. Looking forward, we are more optimistic about our 2012 outlook as channel inventory depletion cycle appears to be behind us.
"Our revenue forecast for the full year is in the range of $200 to $220 million, representing an annual growth rate of approximately 8% at the mid point, fueled by significant growth from a promising pipeline of design wins from new market verticals such as home, business and mobile, as well as key design wins in cordless telephony."
DSP Group has a market cap of $141.6 million.
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