DSP Group Reports Profit In Q2 - Quick Facts

(RTTNews) - DSP Group Inc. (DSPG) reported second-quarter net income of $750 thousand or $0.03 per share, compared to a loss of $2.22 million or $0.10 per share, last year. Adjusted net income for the quarter was $3.52 million or $0.15 per share.

Revenues decreased to $40.69 million from $44.19 million last year.

Ofer Elyakim, CEO of DSP Group, said, "Our ability to maintain GAAP operating profitability, which included non-recurring proxy-related costs, is a powerful demonstration of our successful operational turnaround. During the second quarter we continued our investments in new product initiatives, and have made important progress with key customers' projects that have reached mass shipment phase. Additionally, we secured additional important design wins across our new platforms".