KIRCHHEIM, Germany --- Losses increased and sales dipped on a sequential basis at Dialog Semiconductor plc, a mixed-signal fabless chip developer, in the first quarter of 2003.
The company reported a net loss of 4.66 million euros (about $5.2 million) on sales of 21 million euros (about $23.4 million) for the first quarter of 2003. Although sales were up 10 percent compared to the first quarter of 2002 they were slightly down on the 23.1 million euros (about $25.7 million) recorded in the fourth quarter of 2002 when the company made a net loss of 3.6 million euros (about $4 million).
During the accounting period Dialog closed its Swedish subsidiary to reduce headcount and costs and this resulted in a one-off restructuring and impairment charge, which compounded the loss by 1.5 million euro (about $1.7 million).
"In the first quarter of 2003, more than 50 percent of our revenue was derived from products introduced over the last nine months," said Roland Pudelko, Dialog's chief executive officer and president, in a statement. "The fact that we have been able to announce customer take-up of our new application-specific standard products and modules demonstrates that we have identified appropriate new application areas through which to exploit Dialog's key strengths -- our core competence in mixed signal design and in the delivery of product solutions in CMOS technology," he added.