Cambridge Silicon Radio (CSR)
reported Q3 revenue of $210m up 3% on Q308.
Gross margin was up 4% to 45% compared to 41% in Q209 and 44% in
Q308. Operating profit was $10.6m compared to Q2 09’s $26.3m loss
and Q3 08’s profit of $30.9m. The company expects Q409 revenues of
between $180m and $200m.
In Q3, CSR received its first mass production order for its
Bluetooth, FM, WiFi chip-set, and announced partnerships with
Realtek Semiconductor and Ralink Technology of Taiwan to develop
Bluetooth ICs for PCs and Netbooks.
Integrating the SiRF acquisition has added GPS to the CSR
capability and has contributed significantly to revenue.
“We have completed the SiRF integration as planned, fully achieving
our cost synergy targets,” says CSR CEO Joep van Beurden, “we are
very pleased with the deal we did with SiRF. The talent and
technology is as good as we expected; they are complementary; and
the chemistry between their people and ours means CSR and SiRF
are now operating successfully as one fully combined team. Our GPS
business, coming from SiRF, has performed well, contributing $59.5m
of revenue.”
"We have maintained strong design-win momentum in BT, FM, GPS and
Wi-Fi”, adds van Beurden, “we have received our first mass
production orders for CSR9000, our BT/FM/Wi-Fi combination device,
from a major customer and expect to begin shipping in volume this
quarter, with further design-wins also anticipated.
"In GPS, the launches of SiRFstarIVe and SiRFstarIVt have been
received with strong interest from our customers,” continues van
Beurden, “its micropower SiRFaware and SiRFGeoRecov
technologies makes it a market leader, offering
superior performance. And our latest generation combination
Bluetooth and FM part, BC7820, from our BC7000 family, is now
shipping to multiple Tier 1 OEMs, with end products incorporating
BC7820 already available in retail chains.”
CSR remains cautious about the economic outlook demonstrated by
shortened order lead-times.