Dialog Semiconductor Plc. / Key word(s): Half Year Results/Quarter Results
25.07.2011 07:59
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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DIALOG SEMICONDUCTOR ANNOUNCES ITS RESULTS FOR THE SECOND QUARTER OF 2011
Company exceeds Q2 guidance and reports record revenue in second quarter of
$116.1 million, achieving impressive year-on-year growth of 70%
Kirchheim/Teck, Germany, 25 July 2011 - Dialog Semiconductor plc (FWB:
DLG), a leading provider of high integrated innovative Power Management
Semiconductor solutions, today reports results for its second quarter
ending 1 July 2011.
Q2 2011 Financial Highlights
- Revenue for Q2 2011 was $116.1 million, an increase of 17.9% over the
prior quarter and 69.6% over the corresponding quarter of 2010
- Q2 2011 IFRS operating profit (EBIT) was $13.1 million or 11.3% of
revenue with underlying(*) operating profit of $17.1 million or 14.7%
of revenue
- Q2 2011 underlying(*) EBITDA(**) of $20.4 million or 17.6% of revenue,
compared to $15.1 million or 22.1% in the prior year
- Q2 2011 underlying(*) diluted earnings per share of 24 cents, a 25.4%
increase over Q2 2010
- Increasingly confident in our ability to meet current market
expectations for the full year 2011
- Earnings Accretion from SiTel already achieved in Q2 2011, ahead of
schedule
(*) Underlying results are based on IFRS, adjusted to exclude share-based
compensation charges in Q2 2011 of $1.4 million, excluding one-time costs
of $0.3 million associated with the acquisition of SiTel Semiconductor
('SiTel') incurred during Q2 2011, excluding $0.8 million of amortisation
of intangibles associated with the acquisition of SiTel and excluding
amortisation expenses of $1.4 million in relation to previously capitalised
R&D expenses for close to end of life products from SiTel. The term
'underlying' is not defined in IFRS and therefore may not be comparable
with similarly titled measures reported by other companies. Underlying
measures are not intended as a substitute for, or a superior measure to,
IFRS measures.
(**) EBITDA is defined as operating profit excluding depreciation and
amortisation expenses.
Q2 2011 Operational Highlights
- Significant progress in the integration of SiTel, with integration plan
remaining on track for completion in Q3 2011
- ARM multicore support now added in new generation of power management
ICs launched, with the addition of Freescale processors to the range of
supported application processor products
- Relationship with Panasonic extended with new wins announced for
portable device power management, complementing existing digital
cordless business
- First Green VOIP IC product wins announced in Gigaset's new VOIP pro
series of phones
- New custom PMIC including audio remains on track for smartphone
adoption by major Asian OEM
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Information and Explaination of the Issuer to this News:
Commenting on the results Dialog Chief Executive, Dr Jalal Bagherli, said:
'I am pleased to report a strong second quarter for Dialog, with revenue
and earnings per share exceeding expectations, again bucking the trend in
what remains a challenging economic environment.
Our strategy of focusing the company's technology and product portfolio on
the smartphone and tablet opportunity, which remains the sweet spot within
high-growth consumer markets, continues to bear fruit. At the same time,
our innovation pipeline is generating a strong line-up of new and future
offerings which coupled with a recently expanded portfolio including short
range wireless products, underlines my confidence in Dialog's future.'
FINANCIAL OVERVIEW
Revenue in Q2 2011 was $116.1 million, an increase of 17.9% over the $98.5
million in the prior quarter and an increase of 69.6% on the $68.5 million
of revenue delivered in the corresponding quarter of 2010. Included, was a
contribution of $29.1 million of revenue from the SiTel acquisition: the
first full quarter of consolidation since the acquisition on 10 February
2011. Excluding this SiTel contribution, revenue in Q2 2011 increased by
7.9% over the prior quarter and increased by 27.1% over the corresponding
quarter of 2010.
Gross margin for the second quarter was 40.2%, a decrease of 0.5% over that
achieved in the prior quarter. The gross margin continued to be affected by
both the global constrained supply chain situation as well as the
amortisation of capitalised R&D expenses relating to SiTel products, which
as previously advised will cease to be a material factor after Q3 2011. The
margin was also negatively impacted by the continued steep ramp of a highly
integrated, high volume custom product. This will now show gradual
improvement through the second half of 2011 as the yield is further
optimised.
R&D and SG&A in Q2 2011 stood at 18.2% and 10.7% of revenue respectively,
compared to 19.3% and 12.9% in the prior quarter and 19.5% and 10.5% in the
corresponding quarter of 2010.
Within the combined company operating expenses increased in Q2 2011 by $1.7
million over the prior quarter to $33.5 million due to this being the first
full quarter of consolidation of SiTel since the acquisition. These
operating expenses in Q2 2011 included a net charge of $1.4 million for
share-based compensation and employment-related tax (Q2 2010: $1.4
million), $0.8 million for the amortisation of intangible assets associated
with the acquisition of SiTel and $0.3 million of one-time costs associated
with the acquisition of SiTel.
Operating profit on an IFRS basis in Q2 2011 was $13.1 million or 11.3% of
revenue. This compares to the $8.2 million or 8.5% of revenue delivered in
the prior quarter and $12.0 million or 17.5% in Q2 2010. The underlying
(*) operating profit achieved in Q2 2011 was $17.1 million or 14.7% of
revenue, compared with the underlying (*) operating profit of $13.8 million
or 14.0% of revenue in the prior quarter and $13.4 million or 19.5% in Q2
2010. In Q2 2011 underlying (*) EBITDA (**) was $20.4 million or 17.6% of
revenue compared to $15.1 million or 22.1% in the prior year quarter. Q2
2011 Underlying EBITDA is derived from IRFS EBIT ($13.1 million) as
adjusted for $2.0 million for depreciation of property, plant and
equipment, $0.8 million for amortisation of intangible assets associated
with the acquisition of SiTel, $1.4 million for the accelerated
amortisation of intangible assets in relation to previously capitalised R&D
expenses for close to end of life products from SiTel $1.3 million of
amortisation of other intangible assets, $1.4 million of share based
compensation charges and $0.3 million of one-time expenses associated with
the acquisition of SiTel.
The tax charge in Q2 2011 continued to benefit from the utilisation of
brought-forward tax losses resulting in a residual minimum level current
tax charge, mainly applicable to taxable profits in Germany of $1.3
million. Additionally, a tax charge relating to taxable profits in the
Netherlands of US$0.4 million was recorded. This current and deferred tax
charge was partially offset by a net deferred tax benefit of $1.1 million
from further recognition of a proportion of the deferred tax assets
principally relating to carried forward losses. In total a net tax charge
of $0.6 million was recorded in Q2 2011. Consequently, the overall
effective tax rate for Q2 2011 was 4.4%.
In Q2 2011, on an IFRS basis net profit was $12.4 million or 20 cents per
basic share and 18 cents per diluted share. This compares to 13 cents per
basic share and 12 cents per diluted share delivered in the prior quarter
and 19 and 17 cents respectively in Q2 2010. The underlying (*) earnings
per share (diluted) in Q2 2011 was 24 cents. This compares to 20 cents in
the prior quarter and 19 cents in Q2 2010.
At the end of Q2 2011, our total inventory level was at 80 days ($61.8
million) a decrease of 11 days over the prior quarter. This we believe is a
level that is appropriate in order to service the demands of the combined
business in the coming quarters. This is particularly the case given the
continued constrained global supply chain situation and the expected strong
seasonal ramp of our business in the second half of 2011.
At the end of Q2 2011, we had a gross cash and cash equivalents balance of
$80.5 million, and $10.0 million of debt taken from a $35 million revolving
credit facility. This represents a decrease of $13.8 million over the cash
and cash equivalents balance at the end of Q1 2011, with increased
inventory and working capital now in line for the expected strong seasonal
ramp of our business in the second half of 2011.
On the 14 July 2011 we received a net cash settlement of approximately $2.0
million which appears to be against a receivable which had previously been
written down in 2006 as a result of the insolvency of BenQ mobile. We have
requested further details and, depending on the outcome, we expect this
item to be accounted for in our Q3 2011 financial statements.
SITEL PROGRESS
The acquired SiTel business in its first full quarter of consolidation
recorded $29.1 million in revenue for Q2 2011 at a gross margin of 37.9%
and contributed an operating profit of $0.7 million to the overall Group
performance. Excluding the amortisation of capitalised R&D mentioned above
gross margin would have been 42.8 percent and underlying(*) operating
profit would have been $3.5 million respectively. This results in the SiTel
acquisition being already accretive to EPS in this second quarter, ahead of
our initial third quarter target.
Dialog's ultra low power Green VoIP ICs, acquired through the recent
acquisition of SiTel, have been adopted by Gigaset Communcations, a leading
European telephony equipment manufacturer, extending the already existing
supply relationship here for DECT ICs. Gigaset's pro series of VoIP phones
are targeted at Small and Medium Enterprises ('SME') with Gigaset being the
first of multiple designs wins yet to be announced.
We are seeing strong interest in our low energy wireless technology for
early adopter home automation and security applications, due to the unique
features it can deliver over competing technologies. We expect to launch
new products in the coming months to address this burgeoning segment.
We made significant progress in integrating SiTel (Renamed to Dialog B.V.)
into the wider Group, with most corporate functions now operating as a
single organization. Our focus now rests on completing the integration
plan, as intended, by Q3 2011. Dialog's strategy includes the pursuit of
opportunities in the higher growth and higher profit market segments SiTel
operates in. New R&D product development is now primarily focused on the
development of low energy short range wireless and VoIP solutions
OPERATIONAL OVERVIEW
As part of our Processor Partner program initiative, during the quarter we
launched two new advanced system level power management ICs for tablet PCs,
smartphones, embedded computers and multimedia players. Delivering
class-leading energy efficiency and power-up flexibility, the new DA9053
supports multicore ARM Cortex based processors, including Freescale's iMX53
flagship processor family. Freescale becomes the latest leading application
processor vendor to be supported by Dialog companion PMICs.
Additionally, our system level power management ICs was adopted in two of
Panasonic's latest feature rich portable media players. These design wins
further extend the company's relationship with Panasonic, with ICs for both
power management and digital cordless phone technology now being shipped.
Our engagement with a major Asian OEM smartphone manufacturer for a custom
PMIC, leveraging our expertise in combining audio and power management in a
stacked System in Package ('SIP'), remains on track for platform adoption
before the end of this financial year.
Our innovative display products - PMOLED and 2D-3D Conversion ICs - were
sampled to major OEMs during the quarter for first builds of early concept
phones to demonstrate the unique features these ICs enable.
OUTLOOK
For Q3 2011 we expect revenue to be in the range of $131.0 million to
$136.0 million. We are increasingly confident about the revenue outlook for
the full year 2011 and our ability to meet current market expectations.
For Q3 2011 we expect gross margins to remain at the same level as the
first half of 2011 as supply chain conditions continue to remain
restricted. Against this backdrop, we expect the yield on a high volume
custom product currently ramping to show gradual improvement and expect
further margin improvements within the acquired SiTel business to be
realised towards the end of the financial year.
FURTHER FINANCIAL INFORMATION
Dialog Semiconductor's financial performance for Q2-2011 and Q2-2010
excluding SiTel is summarised below:
US$000 Q2-2011 Q2-2010
IFRS Adjust- IFRS IFRS Change
ment (excluding %
SiTel P&L Sitel)
Q2-2011 Dialog
stand-alone
2) 1)
Revenue 116,090 29,067 87,023 68,451 27.1
Cost of sales (69,448) (18,062) (51,386) (35,421) 45.1
Gross profit 46,642 11,005 35,637 33,030 7.9
Selling and
marketing
expenses (7,189) (3,194) (3,995) (4,099) (2.5)
M&A related
general and
administrative
expenses (275) - (275) - -
Other
general and
administrative
expenses (4,897) (929) (3,968) (3,080) 28.8
General and
administrative
expenses
(total) (5,172) (929) (4,243) (3,080) 37.8
Research and
development
expenses (21,136) (6,208) (14,928) (13,301) 12.2
Restructuring and
related impair-
ment charges - - - (581) (100)
Operating
profit 13,145 674 12,471 11,969 4.2
Financial
result (215) (297) 82 (109) 175.2
Result before
income taxes 12,930 377 12,553 11,860 5.8
Income tax
expense (570) (496) (74) (621) (88.1)
Net profit 12,360 (119) 12,479 11,239 11.0
Earnings per
share in US$
Basic 0.20 0.00 0.20 0.19 6.7
Diluted 0.18 0.00 0.19 0.17 8.2
[1] The column is showing the change between Q2-2011 results for Dialog
without the contribution of SiTel and Q2-2010
[2] The 'IFRS (excluding SiTel)' column has been disclosed to illustrate
the performance of the Dialog Semiconductor Plc business in 2011 excluding
the contribution of SiTel. The performance of SiTel Semiconductor B.V. in
the second quarter 2011 is shown in the 'Adjustment' column. The 'IFRS'
column represents the total consolidated result of the enlarged Dialog
Semiconductor Plc group for three months ended 1 July 2011.
Dialog Semiconductor's financial performance for the first six months of
2011 and 2010 excluding SiTel is summarised below:
US$000 Six months Six months
ended ended
1 July 2011 2 July 2010
IFRS Adjust- IFRS IFRS Change
ment (excluding %
SiTel P&L Sitel)
Q1+Q2-2011 Dialog
stand-alone
2) 1)
Revenue 214,568 46,916 167,652 129,536 29.4
Cost of sales (127,880) (28,988) (98,892) (68,403) 44.6
Gross profit 86,688 17,928 68,760 61,133 12.5
Selling and
marketing
expenses (12,547) (4,686) (7,861) (8,093) (2.9)
M&A related
general and
administrative
expenses (3,123) - (3,123) - -
Other
general and
administrative
expenses (9,484) (1,350) (8,134) (7,411) 9.8
General and
administrative
expenses
(total) (12,607) (1,350) (11,257) (7,411) 51.9
Research and
development
expenses (40,143) (9,096) (31,047) (26,485) 17.2
Restructuring and
related impair-
ment charges - - - (581) (100)
Operating
profit 21,391 2,796 18,595 18,563 0.2
Financial
result 386 (528) 914 (1,164) 178.5
Result before
income taxes 21,777 2,268 19,509 17,399 12.1
Income tax
expense (1,471) (1,018) (453) (1,232) (63.2)
Net profit 20,306 1,250 19,056 16,167 17.9
Earnings per
share in US$
Basic 0.33 0.03 0.30 0.27 12.7
Diluted 0.30 0.02 0.28 0.25 14.5
[1] The column is showing the change between H1-2011 results for Dialog
without the contribution of SiTel and H1-2010
[2] The 'IFRS (excluding SiTel)' column has been disclosed to illustrate
the performance of the Dialog Semiconductor Plc business in 2011 excluding
the contribution of SiTel. The performance of SiTel Semiconductor B.V. in
the second quarter 2011 is shown in the 'Adjustment' column. The 'IFRS'
column represents the total consolidated result of the enlarged Dialog
Semiconductor Plc group for six months ended 1 July 2011.
Dialog Semiconductor's underlying financial performance for Q2-2011 and
Q2-2010 is summarised below:
US$000 Q2-2011 Q2-2010
IFRS Adjust- Adjust- Under- IFRS Adjust- Under-
ment ment lying ment lying
Share SiTel Share
Options Acqui- Options
sition
2) 3) 1) 2) 1)
Revenue 116,090 - - 116,090 68,451 - 68,451
Cost of sales (69,448) (209)(1,432) (67,807)(35,421) (100)(35,321)
Gross profit 46,642 (209)(1,432) 48,283 33,030 (100) 33,130
Selling and
marketing
expenses (7,189) 19 (612) (6,596) (4,099) (217) (3,882)
M&A related
general and
administrative
expenses (275) - (275) - - - -
Other
general and
administrative
expenses (4,897) (746) - (4,151) (3,080) (51) (3,029)
General and
administrative
expenses
(total) (5,172) (746) (275) (4,151) (3,080) (51) (3,029)
Research and
development
expenses (21,136) (450) (212) (20,474)(13,301) (1,037)(12,264)
Restructuring and
related impair-
ment charges - - - - (581) - (581)
Operating
profit 13,145 (1,386) (2,531) 17,062 11,969 (1,405) 13,955
Financial
result (215) - - (215) (109) - (109)
Result before
income taxes 12,930 (1,386) (2,531) 16,847 11,860 (1,405) 13,846
Income tax
expense (570) - - (570) (621) - (621)
Net profit 12,360 (1,386) (2,531) 16,277 11,239 (1,405) 13,225
Earnings per
share in US$
Basic 0.20 0.02 0.04 0.26 0.19 0.02 0.21
Diluted 0.18 0.02 0.04 0.24 0.17 0.02 0.19
EBITDA 4) 18,715 (1,386) (275) 20,376 13,701 (1,405) 15,106
[1] Underlying results are based on IFRS, adjusted to exclude share-based
compensation charges and costs relating to the acquisition of SiTel
Semiconductor B.V. (please refer to footnote [3] below. The term
'underlying' is not defined in IFRS and therefore may not be comparable
with similarly titled measures reported by other companies. Underlying
measures are not intended as a substitute for, or a superior measure to,
IFRS measures.
[2] Share-based compensation charges for Q2-2011 were US$1.4 million
(Q2-2010: US$1.4 million).
[3] Cost of sales of SiTel includes an amount of US$1.4 million relating to
amortisation expenses in relation to capitalized development costs which
will be fully amortized during the second half of 2011. Consequently, no
further amortisation expenses will be recorded for these assets from
Q4-2011 onwards. Selling expenses include the amortization on the customer
relationship identified as part of the purchase price allocation process.
General and administrative expenses include the acquisition costs recorded
as an expense in the income statement of the company. Research and
development expenses include the amortization on patented and not patented
technology identified as part of the purchase price allocation process.
[4) EBITDA is defined as operating profit excluding depreciation and
amortization expenses.
Dialog Semiconductor's underlying financial performance for the first six
months of 2011 and 2010 is summarised below:
US$000 Six months Six months
ended ended
1 July 2011 2 July 2010
IFRS Adjust- Adjust- Under- IFRS Adjust- Under-
ment ment lying ment lying
Share SiTel Share
Options Acqui- Options
sition
2) 3) 1) 2) 1)
Revenue 214,568 - - 214,568 129,536 - 129,536
Cost of sales(127,880) (371)(2,224) (125,285(68,403) (206)(68,197)
Gross profit 86,688 (371)(2,224) 89,283 61,133 (206) 61,339
Selling and
marketing
expenses (12,547) 94 (612) (12,029) (8,093) (524) (7,569)
M&A related
general and
administrative
expenses (3,123) - (3,123) - - - -
Other
general and
administrative
expenses (9,484) (1,201) - (8,283) (7,411) (626) (6,785)
General and
administrative
expenses
(total) (12,607) (1,201) (3,123) (8,283) (7,411) (626) (6,785)
Research and
development
expenses (40,143) (1,856) (212) (38,075)(26,485) (2,563)(23,922)
Restructuring and
related impair-
ment charges - - - - (581) - (581)
Operating
profit 21,391 (3,334) (6,171) 30,896 18,563 (3,919) 22,482
Financial
result 386 - - 386 (1,164) - (1,164)
Result before
income taxes 21,777 (3,334) (6,171) 31,282 17,399 (3,919) 21,318
Income tax
expense (1,471) - - (1,471) (1,232) - (1,232)
Net profit 20,306 (3,334) (6,171) 29,811 16,167 (3,919) 20,086
Earnings per
share in US$
Basic 0.33 0.05 0.09 0.47 0.27 0.06 0.33
Diluted 0.30 0.05 0.09 0.44 0.25 0.06 0.31
EBITDA 4) 31,046 (3,334) (3,123) 37,503 21,866 (3,919) 25,785
[1] Underlying results are based on IFRS, adjusted to exclude share-based
compensation charges and costs relating to the acquisition of SiTel
Semiconductor B.V. (please refer to footnote [3] below. The term
'underlying' is not defined in IFRS and therefore may not be comparable
with similarly titled measures reported by other companies. Underlying
measures are not intended as a substitute for, or a superior measure to,
IFRS measures.
[2] Share-based compensation charges for H1-2011 were US$3.3 million
(H1-2010: US$3.9 million).
[3] Cost of sales of SiTel includes an amount of US$2.2 million relating to
amortisation expenses in relation to capitalized development costs which
will be fully amortized during the second half of 2011. Consequently, no
further amortisation expenses will be recorded for these assets from
Q4-2011 onwards. Selling expenses include the amortization on the customer
relationship identified as part of the purchase price allocation process.
General and administrative expenses include the acquisition costs recorded
as an expense in the income statement of the company. Research and
development expenses include the amortization on patented and not patented
technology identified as part of the purchase price allocation process.
[4) EBITDA is defined as operating profit excluding depreciation and
amortization expenses.
Dialog Semiconductor invites you today at 08.30 am (London) / 09.30 am
(Frankfurt) to listen in a live conference call to management's discussion
of Q2 2011 performance, as well as guidance for financial 2011. To access
the call please use the following dial-in numbers: Germany: 0800 101 4960,
UK: 0800 694 0257, US: 1866 966 9439, ROW: +44 1452 555 566, with no access
code required. An instant replay facility will be available for 30 days
after the call and can be accessed at +44 1452 550 000 with access code
80064027# (UK). An audio replay of the conference call will also be posted
soon thereafter on the company's website at:
http://www.diasemi.com/investor_relations.php
Additional information to this adhoc release including the company's
consolidated income statement, consolidated balance sheet and consolidated
statements of cash flows for the period ending 1 July 2011 is available
under the investor relations section of the Company's web site.
Note to editors
Dialog Semiconductor creates highly integrated, mixed-signal integrated
circuits (ICs) optimised for personal portable, low energy short-range
wireless, lighting, display and automotive applications. The company
provides flexible and dynamic support, world-class innovation and the
assurance of dealing with an established business partner.
With its unique focus and expertise in energy efficient system power
management, and now with the recent addition of low energy short range
wireless and VoIP technology to the portfolio, Dialog brings decades of
experience to the rapid development of ICs for personal portable
applications including smartphones, tablet PCs, digital cordless phones and
gaming applications.
Dialog's power management processor companion chips are essential for
enhancing both the performance in terms of extended battery lifetime and
the consumers' multimedia experience. With world-class manufacturing
partners, Dialog operates a fabless business model.
Dialog Semiconductor plc is headquartered near Stuttgart with a global
sales, R&D and marketing organisation. In 2010, it had $296.6 million in
revenue and was again one of the fastest growing European public
semiconductor companies. It currently has approximately 550 employees. The
company is listed on the Frankfurt (FWB: DLG) stock exchange and is a
member of the German TecDax index
Forward Looking Statements
This press release contains 'forward-looking statements' that reflect
management's current views with respect to future events. The words
'anticipate,' 'believe,' 'estimate, 'expect,' 'intend,' 'may,' 'plan,'
'project' and 'should' and similar expressions identify forward-looking
statements. Such statements are subject to risks and uncertainties,
including, but not limited to: an economic downturn in the semiconductor
and telecommunications markets; changes in currency exchange rates and
interest rates, the timing of customer orders and manufacturing lead times,
insufficient, excess or obsolete inventory, the impact of competing
products and their pricing, political risks in the countries in which we
operate or sale and supply constraints. If any of these or other risks and
uncertainties occur (some of which are described under the heading 'Risks
and their management' in Dialog Semiconductor's most recent Annual Report)
or if the assumptions underlying any of these statements prove incorrect,
then actual results may be materially different from those expressed or
implied by such statements. We do not intend or assume any obligation to
update any forward-looking statement which speaks only as of the date on
which it is made, however, any subsequent statement will supersede any
previous statement.
For further Information:
Dialog Semiconductor FD London FD Frankfurt
Neue StraÃe 95 Matt Dixon Thomas Krammer
D-73230 Kirchheim/Teck T +44 20 7269 7214 T +49 69 920 37 183
Germany matt.dixon@fd.com thomas.krammer@fd.com
T: +49 7021 805 412
dialog@fd.com
www.dialog-semiconductor.com
25.07.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Dialog Semiconductor Plc.
Tower Bridge House, St. Katharine's Way
E1W 1AA London
United Kingdom
Phone: +49 7021 805-412
Fax: +49 7021 805-200
E-mail: birgit.hummel@diasemi.com
Internet: www.diasemi.com
ISIN: GB0059822006
WKN: 927200
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of Announcement DGAP News-Service
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DGAP-Adhoc: Dialog Semiconductor Plc.: Dialog Semiconductor announces its results for the second quarter of 2011
| Source: EQS Group AG