CSR Q3 Profit Climbs, Despite Weak Revenues; Sees Q4 Revenue In Line With View

(RTTNews) - CSR Plc. (CSRE, CSRXF.PK, CSR.L), which is in deal to be acquired by Mobile chip maker Qualcomm Inc (QCOM), reported Wednesday that its third-quarter profit before tax climbed to $27.788 million from last year's $17.318 million.

Earnings per share grew to $0.11 from $0.06 a year ago. Underlying earnings per ordinary share were $0.20, compared to $0.15 a year ago.

The provider of multifunction connectivity, audio, and location platforms reported revenue of $212.2 million for the quarter, down 16 percent from last year's $252.1 million, as expected, reflecting mainly an 80 percent decline in Legacy revenue.

Core revenue, however, grew 5 percent year-on-year to $199.5 million, reflecting mainly strong growth in Voice & Music revenue.

Looking ahead, the company said it expects fourth quarter revenue to be in line with management expectations.

In view of the Qualcomm Offer, the Board does not intend to pay or recommend for payment any further dividends prior to the completion of the transaction, and also has suspended share repurchases.