SAN JOSE, Calif., Jan. 9, 2012 (GLOBE NEWSWIRE) -- DSP Group®, Inc. (Nasdaq:DSPG), a leading global provider of wireless chipset solutions for converged communications at home, will release its earnings results for the fourth quarter of 2011 on February 1st, 2012 before the market opens.
In conjunction with its earnings release, the Company updated its financial guidance for the fourth quarter of 2011.
The following estimates are based on the current business outlook:
Net Revenue: Previously provided guidance for fourth quarter revenues in a range from $34 to $38 million. Guidance now increased to the high end of that range to approximately $38 million for the fourth quarter and bringing total revenues to a level of approximately $194 million for full year 2011.
Operating Loss and Net Loss on a non-GAAP basis: Expected to be lower than previously estimated due to higher revenues.
"DSP Group's fourth quarter revenues are better than previously expected driven by improved demand for our products; we view this as a positive sign indicating improved market conditions," stated Ofer Elyakim, CEO of DSP Group. "We continued our share buyback activity and repurchased approximately 500,000 shares for approximately $3.2 million during the fourth quarter, which brings the total number of shares repurchased during this fiscal year to approximately 1.3 million shares," he added.
DSP Group's fourth quarter business outlook was originally published in the company's third quarter 2011 earnings release.
The company would like to invite you to participate in a conference call at 8:30 AM ET. DSP Group's management team will comment on the financial results and press release.
This call is being webcast by Thomson/CCBN and can be accessed at DSP Group Inc.'s web site www.dspg.com under the Investor Relations page or click: http://www.media-server.com/m/p/ph87322t
The webcast is also being distributed through the Thomson StreetEvents Network. Individual investors can listen to the call at www.earnings.com, Thomson's individual investor portal, powered by StreetEvents. Institutional investors can access the call via Thomson StreetEvents (www.streetevents.com), a password - protected event management site.
About DSP Group
DSP Group, Inc. (Nasdaq:DSPG) is a leading global provider of wireless chipset solutions for converged communications at home. Delivering system solutions that combine semiconductors and software with reference designs, DSP Group enables consumer electronics (CE) manufacturers to cost-effectively develop new revenue-generating applications with fast time to market. At the forefront of semiconductor innovation and operational excellence for over two decades, and with a growing share of the wireless home telephony market, DSP Group provides a broad portfolio of wireless chipsets integrating DECT, Wi-Fi, PSTN and VoIP technologies with state-of-the-art application processors. Enabling converged voice, audio, video and data connectivity across diverse consumer products – from cordless and VoIP phones to home gateways and connected multimedia screens – DSP Group proactively partners with CE manufacturers to shape the future of converged communications at home. For more information, visit www.dspg.com.
The DSP Group, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6171
Forward Looking Statements
This press release contains statements that qualify as "forward-looking statements" under the Private Securities Litigation Reform Act of 1995, including the Company's financial guidance for fourth quarter revenues and operating loss and net loss on a non-GAAP basis. These forward-looking statements are based on current expectations and DSP Group assumes no obligation to update this information. In addition, the events described in these forward-looking statements may not actually arise as a result of various factors which may affect future operating results or DSP Group's stock price and are discussed under "RISK FACTORS" in the Form 10‑K for fiscal 2010 as well as other reports DSP Group has filed with the Securities and Exchange Commission and which are available on DSP Group's Web site (www.dspg.com) under Investor Relations.
CONTACT: Victor Halpert
Director of Business Development and Investor Relations
Tel: 1 917 602 2965
Image: DSP GroupDSP Group, Inc.