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Dialog Semiconductor reported a robust Q1 2021, with revenue of US$366 million, up 47% from the previous year. Revenue excluding legacy PMICs surged by 61%. The operating profit climbed to US$36.6 million, and diluted EPS reached $0.36, reflecting a 128% increase. Operating expenses rose by 28% due to the acquisition of Adesto. The company maintained operational strength amid ongoing COVID-19 challenges, with cash flow improving significantly to US$26 million. An acquisition by Renesas Electronics is expected to complete in the second half of 2021.
Dialog Semiconductor has extended its partnership with SiFive, becoming the preferred power management partner for the HiFive Unmatched RISC-V Linux Development Platform. This collaboration utilizes Dialog's DA9063 system PMIC, optimizing power supply management with 6 DC-DC Buck Regulators and 11 LDOs. The device enables dynamic voltage scaling to reduce power dissipation. Dialog's solutions are designed to streamline power management, reduce costs, and enhance performance across SiFive's products, marking a significant step in their joint development efforts.
Dialog Semiconductor has expanded its SmartServer IoT Partner Program by including companies that offer AI-driven data analytics for industrial operations. The initiative aims to enhance productivity and reduce costs by transforming complex industrial data into actionable insights. New members, Smartia and VIMANA, will leverage the SmartServer platform to deliver valuable analytics and insights to their clients. Dialog's open software platform also provides integration tools and technical support, facilitating digital transformation for its partners.
Dialog Semiconductor has launched the AT25EU family of ultra-low energy SPI NOR Flash devices, targeting power-efficient IoT solutions. These devices offer significantly faster erase times and reduced energy consumption compared to existing options. For instance, the 2Mbit AT25EU0021A performs a full-chip erase in under 10ms while consuming less than 1% of the energy of competing products. The AT25EU series enhances performance for Over-the-Air updates and event tracking, supporting a range of battery-powered applications. Initial sampling will be available in Q2 2021, with plans for higher density devices up to 16Mbits.
Dialog Semiconductor has announced that its shareholders approved the recommended cash acquisition by Renesas Electronics Corporation. At the Court Meeting and Dialog General Meeting held on April 9, 2021, all proposed resolutions received the necessary votes for passage. The acquisition will proceed via a scheme of arrangement under the Companies Act. Further details, including voting results, will be shared on Dialog's website. The acquisition is contingent upon regulatory approvals and is expected to finalize in the second half of 2021.
Dialog Semiconductor has announced that all resolutions regarding the recommended cash offer from Renesas Electronics Corporation were successfully passed at the recent court and general meetings. A total of 27,554,505 shares voted at the court meeting with 99.87% in favor of the proposal. The special resolution at the general meeting also received overwhelming support, with 99.87% approval. The acquisition is subject to regulatory approvals across various jurisdictions and is expected to be effective in the second half of 2021.
Dialog Semiconductor has launched the SLG46811, the smallest device in its GreenPAK suite, featuring an I²C communication interface. This new product integrates programmable logic with shift register macrocells, a multichannel analog comparator, and a 92 x 8-bit pattern generator in a compact 1.6mm x 1.6mm package. It offers low active current consumption, fast response times, and is designed for cost-effective, complex digital projects. This innovation enhances GreenPAK applications and caters to the growing demand in IoT and industrial sectors.
On March 8, 2021, Dialog Semiconductor and Renesas Electronics announced a recommended cash offer by Renesas for Dialog's entire issued share capital. This offer will be implemented through a scheme of arrangement under the Companies Act. A Scheme Document is being distributed to Dialog shareholders, detailing terms, an explanatory statement, meeting notices, and an expected timetable. Shareholder meetings for approval are scheduled for April 9, 2021. If approved, the scheme is expected to be effective in H2 2021. Important dates and instructions for voting are included.
Dialog Semiconductor Plc has announced organizational changes to align with its growth strategy, particularly in the industrial market. It restructured its segments by integrating Creative Chips GmbH and Adesto Technologies into a new Industrial IoT segment. The group’s underlying revenue remained stable for 2019 and Q1-Q3 2020, unaffected by these changes. Q4 and FY 2020 results will be reported under this new structure. The company generated approximately <$1.4 billion> in revenue in 2020.
Dialog Semiconductor reported strong financial results for Q4 2020, with revenue of US$439 million, up 15% year-on-year, and underlying operating profit of US$110.5 million, a 21% increase. The company experienced a 39% rise in revenue excluding licensed PMICs. Gross margin was 49.2% with underlying gross margin at 50.8%. The diluted EPS rose to US$0.81, up 33% YoY. Subsequent to the quarter, Dialog announced a recommended acquisition by Renesas for €67.50 per share, valuing the company at approximately €4.9 billion. Cash flow from operations reached US$130.8 million.
