NEW YORK (Thomson Financial) - DSP Group Inc. shares fell Friday after the
company reported first-quarter adjusted earnings that fell sharply from the same
period a year earlier.
The company also said it expects its traditional cordless market to "remain
challenging throughout the year" because of pricing and volume pressures.
The San Jose, Calif.-based semiconductor company said adjusted income was
$1.4 million, or 5 cents a share, down 73% from $5.3 million, or 19 cents a
share, a year earlier.
Revenue in the quarter was $72.7 million, up 48% from $49.3 million reported
in the first quarter of 2007.
The mean first-quarter earnings estimate of analysts polled by Thomson
Reuters was 5 cents a share on revenue of $73.1 million.
Shares of DSP fell 17% to $11.06.
Ryan Vlastelica
rv/jw
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