DSP Group Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter of 2015
For the year, the company reported revenues were $143,036,000 compared with $151,063,000 a year ago. Operating loss was $443,000 compared with operating income was $69,000 a year ago. Income before income taxes was $761,000 compared with $2,526,000 a year ago. Net income was $3,602,000 compared with $2,676,000 a year ago. Net income diluted per share was $0.16 compared with $0.12 a year ago. Non-GAAP net income was $7,276,000 compared with $9,525,000 a year ago. Non-GAAP diluted net income per share was $0.31 compared with $0.41 a year ago. Cash flows from operations were $10.4 million. Cash used for purchase of property and equipment was $1.3 million.
For the first quarter of 2015, the company expects revenues to be in the range of $35 million and $39 million, implying a 13% year-over-year growth at the midpoint. The company expects gross margin to be in the range of 40% and 41%. Financial income is expected to be approximately $0.3 million.