CSR Plc Unaudited Results for the Quarter and First Half Ended 1 July 2005 Record Results, Continuing Strong Growth and Outlook.CAMBRIDGE, England -- A full version of this release is available to download: http://ir.csr.com/csr/news/releases/2005-07-28a/ CSR plc CSR (LSE: CSR), or Cambridge Silicon Radio is a company based in Cambridge, England whose main product line is a single-chip implementation of the Bluetooth standard for radio-signal communication between devices. CSR is a fabless semiconductor manufacturer. (LSE LSE - Language Sensitive Editor :CSR), a world leader in Bluetooth technology and wireless solutions, today announces record results for the quarter and half year ended 1 July 2005. HIGHLIGHTS Second Quarter 2005 Highlights --Revenue increased by 61% to $94.8 million (Q2 2004: $58.9 million) --Gross margin of 46.9% (Q2 2004: 46.7%) --Operating profit increased by 29% to $18.9 million (Q2 2004: $14.7 million) --Operating margin of 19.9% (Q2 2004: 25.0%) --Profit before tax increased by 33% to $19.4 million (Q2 2004: $14.6 million) --Diluted earnings per share of $0.11 (Q2 2004: $0.11) --Operating cash inflow of $17.3 million (Q2 2004: $13.9 million) --56% unit market share (Q2 2004: 42%) --CSR to acquire UbiNetics' Software Business, which has been announced separately today --Exceeded 1,000 design wins to date including wins with BenQ, Nokia, Motorola, Samsung and Sony Ericsson For an arrangement of Sony Ericsson products, see list of Sony Ericsson products Sony Ericsson is a joint venture established in 2001 by the Japanese consumer electronics company Sony Corporation and the Swedish telecommunications company Ericsson to make mobile phones. --ASE fully recover assembly and test capacity following the fire on 1 May 2005 First Half 2005 Highlights --Revenue increased by 68% to $161.1 million (H1 2004: $95.7 million) --Gross margin of 46.8% (H1 2004: 47.3%) --Operating profit increased by 33% to $29.1 million (H1 2004: $21.8 million) --Operating margin of 18.1% (H1 2004: 22.7%) --Profit before tax increased by 38% to $30.3 million (H1 2004: $22.0 million) --Diluted earnings per share of $0.17 (H1 2004: $0.18) --Operating cash inflow of $22.3 million (H1 2004: $16.4 million) --Acquired Clarity Technologies, Inc., a leading provider of software for improving audio quality --Won 61% of all mobile phone and headset design wins Commenting on the results, John Hodgson, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. said: "CSR's consistent focus on leading edge design of wireless solutions and highly efficient production, coupled with our strong customer relationships continues to pay off. We have achieved record results, despite the disruption to production caused by the fire on 1 May at ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. Chung Li Chung Li (b. 1967) is a Chinese karate practitioner. Representing China in 1990, Li won the first competition in which females were allowed to participate, making her the first female to win an International Karate Championship. , our most significant supplier of assembly and test services. CSR's production capacity was quickly recovered enabling us to satisfy customer demand. Integration of Clarity Technologies, Inc. is well advanced and we have already incorporated its Clear Voice Capture (CVC See CSC. ) technology into our BlueCore3 Multimedia chip. Our market place remains buoyant, and we continue to grow our market share. We achieved a landmark 1,000th design win during the quarter. Customer interest is also strong in our UniFi chip, the first in the world to embed IEEE (Institute of Electrical and Electronics Engineers, New York, www.ieee.org) A membership organization that includes engineers, scientists and students in electronics and allied fields. 802.11a/b/g in a single chip. We demonstrated the chip in April, and volume production remains on track for 2006. Looking ahead, CSR is entering the third quarter with particularly strong bookings and we are confident of achieving significant growth in the second half of 2005." About CSR CSR plc (Cambridge Silicon Radio)(LSE:CSR) is a leading global provider of wireless personal area network technology including Bluetooth and Wi-Fi. CSR offers the market leading solutions for Bluetooth and 802.11a/b/g. CSR is now producing its fourth generation BlueCore devices for Bluetooth. BlueCore4 supports the Enhanced Data Rate (EDR (Enhanced Data Rate) An acronym occasionally used to reflect an advancement in transmission or transfer speed. For example, Bluetooth 2.0 + EDR provides a dramatic increase in speed over the previous version. See Bluetooth. ) standard, which was ratified at the end of 2004. BlueCore4 remains the only EDR silicon to be shipping in volume today. In November 2004 CSR launched UniFi, the first single chip 802.11a/b/g embedded solution specifically targeting the mobile phone and consumer electronics markets. BlueCore features in over 50 per cent of all Bluetooth devices shipped and over 60 per cent of all qualified Bluetooth enabled products and modules listed on the Bluetooth website with industry leaders including Nokia, Dell, Samsung, Panasonic, Sharp, Motorola, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Apple, NEC (NEC Corporation, Tokyo, www.nec.com, www.necus.com) An electronics conglomerate known in the U.S. for its monitors. In Japan, it had the lion's share of the PC market until the late 1990s (see PC 98). NEC was founded in Tokyo in 1899 as Nippon Electric Company, Ltd. , Toshiba, RIM and Sony using BlueCore devices in their range of Bluetooth products. In March 2005, CSR acquired Clarity Technologies Inc., for its Clear Voice Capture (CVC) technology that enhances the audio performance of any voice-based product or system. Applications for CVC include wireless headsets, handsets and automotive hands free systems. CSR has its headquarters in Cambridge, UK, and offices in Richardson, Texas and Detroit, Michigan, USA; Tokyo, Japan; Seoul, Korea; Taipei, Taiwan; Aalborg, Denmark; and Lund, Sweden. More information can be found at www.csr.com and the partner web site www.btdesigner.com More information about Bluetooth can be found on the SIG web site at www.bluetooth.com Ref: EME n. 1. An uncle. 9782 |
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