DSP Beats On Q1 Revenue, To Issue Q2 Guidance During Today's Earnings Call

DSP Group Inc DSPG reported first-quarter FY21 revenue growth of 16% year-on-year to $32.6 million, beating analyst consensus of $31.9 million.
IoAT revenues rose 14% to 20.8 million, SmartVoice and SmartHome revenues increased 50% and 22%, while Unified Communications revenue declined 3%. Cordless revenues rose 18% to $11.8 million.
Robust demand for voice-centric products, offset by certain supply chain constraints, a record quarter for SmartHome business, solid momentum in SmartVoice products, and a faster recovery of the Unified Communication segment, drove the results, CEO Ofer Elyakim said.
Non-GAAP gross margin expanded 130 basis points to 52.7% from enhanced product mix.
DSP reported a Non-GAAP net income of $1.3 million versus a net loss of $1 million in the year-ago period. Non-GAAP EPS of $0.05 was in line with analyst consensus.
The company generated $0.8 million in operating cash flow. It held $129.1 million in cash and equivalents.
The recent achievements included the increasing adoption of voice user interfaces (VUIs) in a broad array of applications, the successful penetration of DECT/ULE into the security market, and the launch of new unified communications endpoints and hybrid collaboration devices by leading brands, added Elyakim.
The company will discuss its Q2 guidance on its conference call at 8:30 a.m. ET today.
Price action: DSPG shares closed lower by 3% at $13.89 on Friday.