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DSP Group reported a 45% year-over-year increase in Q3 revenues, totaling $37.8 million. Noteworthy growth occurred in Unified Communications, which surged 458%. Gross margins improved to 55.3% (GAAP) and 55.7% (non-GAAP). The company achieved a non-GAAP net income of $4.1 million and plans to merge with Synaptics, with stockholders set to vote on the deal on November 29, 2021. DSP Group's strong cash position now totals $133.4 million. The merger could potentially benefit stockholders significantly.
Synaptics Acquires DSP Group for $22.00 per share in an all-cash deal, enhancing its IoT and connectivity portfolio. This acquisition, approved by both companies' boards, is expected to generate annual synergies of $30 million within a year and is immediately accretive to Synaptics' non-GAAP earnings. The transaction will be financed through existing cash and debt financing and aims for completion by the end of 2021, pending shareholder approval. DSP Group specializes in voice and wireless solutions, aligning with Synaptics' growth strategy.
DSP Group, Inc. reported exceptional second-quarter results for 2021, with total revenues reaching $35.81 million, a 26% year-over-year increase. The IoAT segment saw record revenues of $24.76 million, up 35% YoY, making up 69% of total revenues. Non-GAAP gross margins hit 54.1%, reflecting a strong mix of voice-centric products. The company generated $6.8 million in cash from operations and repurchased approximately 339,000 shares for $5.3 million. CEO Ofer Elyakim expressed optimism for continued growth driven by increasing demand in voice-centric markets.
DSP Group, Inc. (NASDAQ: DSPG) and Cloud of Things announced their collaboration to showcase a smart IoT gateway at the ISC West trade show in Las Vegas. This enterprise-grade device utilizes ULE technology for reliable wireless communications, addressing the growing demand for connected smart products in home and office environments. The smart home market is projected to grow from $79.90B in 2018 to $622.59B by 2026, at a CAGR of 29.3%. This partnership aims to meet market demands for efficient and effective IoT solutions.
DSP Group (NASDAQ:DSPG) will announce its second-quarter earnings results on August 2, 2021, before market opens. A conference call is scheduled for 8:30 AM ET, where the management team will discuss the financial results and answer questions. Investors can join by dialing +18778709135 (U.S.) or +44 (0) 2071 928338 (international). The conference call will also be available as a live webcast on the company’s investor relations website. DSP Group specializes in wireless chipsets for smart-enabled devices, focusing on voice, audio, and data connectivity.
DSP Group, Inc. (NASDAQ: DSPG) and Alango Technologies announced the launch of the Extended Voice Communication Package (eVCP) on DSP Group's DBMD7 SmartVoice processor. This collaboration enables rapid development of high-performance voice conferencing solutions, addressing the growing demand for voice clarity in unified communications. eVCP enhances voice quality through technologies like echo cancellation and noise reduction. The DBMD7 supports up to eight microphones, promoting flexibility in various applications such as automotive and conferencing systems.
DSP Group, a leader in wireless chipset solutions, announced participation in upcoming virtual events including the Needham Tech & Media Conference on May 18, Cowen Annual Technology, Media & Telecom Conference on June 1, and the Roth London Conference on June 21. Investors can schedule one-on-one meetings with management by contacting the Investor Relations team. Presentations will be available via webcast on the company's investor relations website.
DSP Group reported first-quarter revenues of $32.6 million, marking a 16% year-over-year growth. IoAT revenues reached a record $20.8 million, a 14% increase from the previous year. Non-GAAP gross margins stood at a record 52.7%. The company achieved a non-GAAP diluted earnings per share of $0.05, improving from a loss of $0.04 in Q1 2020. Despite ongoing supply chain constraints, DSP Group anticipates continued strong demand and revenue growth in the upcoming quarters, driven by innovation and recent product launches.
DSP Group, Inc. (NASDAQ: DSPG) has appointed Claus Stetter as Vice President of Marketing and Communications, effective immediately. This strategic move aims to strengthen DSP's market presence in the Internet of Audio Things (IoAT) sector, enhancing brand identity and marketing strategies. Stetter brings over two decades of experience in sales and marketing, previously serving in senior roles at notable tech companies. His leadership is expected to facilitate the company's ongoing transformation and focus on voice interface and IoT technologies.
DSP Group (NASDAQ:DSPG) will announce its Q1 2021 earnings results on May 3, 2021, before the market opens. A conference call is scheduled for 8:30 AM ET, where management will discuss the financial results and answer questions. Investors can participate by dialing +1(877)8709135 (US) or +44 (0) 2071 928338 (international). The call will also be available as a live webcast on DSP Group's Investor Relations website. DSP Group is recognized for its innovations in wireless chipsets for smart-enabled devices.
