Dialog sees third-quarter revenues at $360-$400 million

Dialog sees third-quarter revenues at $360-$400 million
FILE PHOTO: Dialog semiconductor logo is pictured at a flag in Germering near Munich, Germany August 15, 2016. REUTERS/Michaela Rehle   -  Copyright  Michaela Rehle(Reuters)
By Reuters

FRANKFURT (Reuters) – Dialog Semiconductor <DLGS.DE> forecast revenues of $360-$400 million (£295.6-£328.5 million) in the third quarter after confirming a second-quarter profit beat thanks to a deal to transfer people and patents to iPhone maker Apple <AAPL.O>.

The Anglo-German chip designer also said it expected underlying gross margins to remain stable in the third quarter after coming in at 49.7% in the latest period.

For the year as a whole, Dialog slightly narrowed its outlook for underlying revenue to fall by a mid-single-digit percentage margin. Previously it had forecast a single-digit decline.

Dialog pre-released estimated second-quarter earnings on July 17 that beat its own guidance. Revenues came in at $482 million, buoyed by $146 million in one-off licence revenues from the Apple deal.

(Reporting by Douglas Busvine; Editing by Michelle Martin)

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