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Release LibraryCambridge, UK – 1 May 2008 -CSR (LSE: CSR) today announced its unaudited financial results for the quarter ended 28 March 2008. CSR revenues were in line with expectations at $160.9m with gross margin at 45.1%. CSR expects Q2 2008 revenues will be in the range of $175m to $200m. The company continues to hold the leading market share in all of the sectors in which the company competes.
CSR also announced today the key findings from the recently completed operational assessment which confirmed the absolute focus on the wireless connectivity market and the convergence of several connectivity technologies on a single piece of silicon in mobile phones and other portable consumer electronics products, forming a connectivity centre.
CSR CEO Joep van Beurden commented: “Our business is wireless connectivity and the projected growth of the wireless connectivity market is rapid, driven by rapid growth of smart phones and feature phones. The connectivity centre market is expected to grow strongly, from $3.6 billion in 2007 to over $7 billion in 2012.
At the heart of this growth, we see the development of multiple technologies converging on a single piece of silicon and forming an increasingly powerful connectivity centre in mobile phones and other portable consumer electronics products. This trend is already being reflected by requests from our customers for product designs that combine wireless communication technologies. All the technologies we have identified are either in production or are in our current R&D pipeline.
CSR is well placed to exploit this growth, as we are the established leader in Bluetooth, the centre of connectivity in today’s mobile phones. We have strong relationships with all the major mobile phone OEMs and the technological expertise to deliver products that meet their needs.”
The company has seen strong design activity in the quarter, in particular in its BlueCore5, BlueCore6 and UniFi products. The recently launched MusiCore audio processor chip has been well received by potential customers: three of the top five phone OEMs are now actively engaged in MusiCore design projects and the other two are evaluating the solution. MusiCore increases the music playback time on a typical music mobile handset to around 100 hours and provides audio quality comparable to leading edge MP3 players.
CSR continues to perform strongly in the cellular handset segment and remains well positioned in its existing top tier customers. In addition, CSR now has multiple active design projects at a top tier phone OEM to whom CSR has not previously supplied. BlueCore6 had an important design win at a top tier customer and started contributing to revenue in Q2 2008. Significant design-in activity is on-going with other top tier customers.
CSR also continues to enjoy an undisputed leadership position across all segments of the Bluetooth headset market. This lead was furthered in Q1 2008 with the release of two new mono headset chips: BlueVox2 and BlueVox DSP. In addition, CSR believes the stereo headset market is poised for significant growth in 2008 with the demand being driven by the growing number of mobile phones designed to support Bluetooth stereo audio streaming, and other products such as MP3 players, PCs and gaming consoles.
About CSR
CSR is the leading global provider of personal wireless technology and its product portfolio covers Bluetooth, GPS, FM and Wi-Fi (IEEE802.11). CSR offers developed hardware/software solutions, based around its silicon platforms, that incorporate fully integrated radio, baseband and microcontroller elements.
CSR’s customers include industry leaders such as Apple, Dell, LG, Motorola, NEC, Nokia, Panasonic, RIM, Samsung, Sharp, Sony, TomTom and Toshiba.
CSR has its headquarters and offices in Cambridge, UK, and offices in Japan, Korea, Taiwan, China, India, France, Denmark, Sweden and both Dallas and Detroit in the USA.
More information can be found at www.csr.com
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