Dialog Semi reviews guidance as Chinese holiday boosts third quarter sales
- Oil steadies on doubts output cut will end global glut
- Western Digital (WDC) Raises Q2 Outlook
- Dollar edges up vs yen as traders eye ECB meeting for cues
- Foxconn says in preliminary discussions to expand U.S. operations
- Dave & Buster's Entertainment (PLAY) Tops Q3 EPS by 11c, Raises FY Revenue Guidance
Dialog semiconductor logo is pictured at a company building in Germering near Munich, Germany August 15, 2016. REUTERS/Michaela Rehle
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
FRANKFURT (Reuters) - Dialog Semiconductor (NASDAQ: DLGS), the maker of chips used in Apple and Samsung Electronics' smartphones, said it was reviewing its full-year guidance after a Chinese holiday helped bolster third-quarter sales.
Sales for the three months through September came to around $345 million, Dialog said late on Wednesday, up 40 percent from the second quarter and almost 5 percent above the year-earlier level, as orders for mobile chips were brought forward due to China's National Day holiday.
The news comes after a disappointing second quarter in which sales and operating profit dropped, prompting Dialog to cut its full-year sales guidance to forecast a drop by around 15 percent on softness in the smartphone market.
Dialog, which is due to publish full third-quarter financial results on Nov. 3, makes chips that manage power consumption of consumer electronic devices such as smartphones and tablet computers. Apple Inc (NASDAQ: AAPL) and Samsung Electronics <005930.KS> are among its main customers.
(Reporting by Maria Sheahan; Editing by Chris Reese)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- AutoZone (AZO) Tops Q1 EPS by 5c; Comps Light of Views
- Powell Industries (POWL) Tops Q4 EPS by 47c, Comments on Outlook
- Guggenheim Reiterates Buy on At Home Group (HOME) Following 3Q
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!