(Oslo, Norway – February 7, 2020) Nordic Semiconductor ASA today reported
revenues of USD 83.1 million for the fourth quarter 2019, compared to USD 61.1
million in the fourth quarter 2018. Gross margin improved to 51.6% from 51.0%,
and EBITDA increased to USD 12.2 million from USD 2.1 million. The backlog was
USD 107 million at the end of the year, up from USD 70 million at the end of
Bluetooth revenues amounted to USD 65.5 million in the fourth quarter 2019, up
from USD 40.1 million in the same quarter the year before.
“Revenue exceeded our guidance in the fourth quarter, with a strong gross margin
supported by a favorable product mix. The backlog remains solid, driven by
increasing traction with Tier 1 customers” says CEO Svenn-Tore Larsen in Nordic
Operating profit (EBIT) was USD 5.4 million in the fourth quarter 2019, compared
to an operating loss of USD 2.4 million in the fourth quarter 2018, whereas the
net profit after tax improved to USD 4.4 million from a net loss of USD 2.6
million in the fourth quarter 2018.
The coronavirus outbreak in China has increased uncertainty about our near term
revenue outlook. Nordic has received pushouts for some orders for the first
quarter. Taking this into account, we guide for a total revenue range of USD
64-71 million for Q1 2020, a wider range than we would normally aspire to. Gross
margin is expected at around 50%.
Revenue for the full year 2019 increased to USD 288.4 million from USD 271.1
million in 2018, with the gross margin improving to 50.9% from 49.8% the year
before. EBITDA increased to USD 32.8 million from USD 30.8 million, whereas EBIT
declined to USD 9.3 million from USD 14.0 million in 2018. Net profit after tax
was USD 7.3 million in 2019, compared to USD 8.9 million the year before.
Nordic Semiconductor reiterates its medium-term guidance for an annual growth
level of 20%-30% for Bluetooth low energy and multiprotocol products, and a
gross margin for the short-range business in the 48%-50% range.
The management team will host a presentation of the results for the fourth
quarter and full year 2019 today at 08:00 CEST at Thon Hotel Vika Atrium,
Munkedamsveien 45, Oslo, Norway. The presentation will be held in English.
A live webcast from the presentation can be found at https://www.nordicsemi.com,
and a recorded version of the presentation will also be available after the
For further information, please contact:
Pål Elstad, CFO Nordic Semiconductor ASA
Phone: +47 991 66 293
Ståle Ytterdal, IR Nordic Semiconductor ASA
Phone: +47 930 37 430
About Nordic Semiconductor:
Nordic Semiconductor has been a pioneer in the field of ultra- low power
wireless solutions since 2002 and was one of the founding members of the Nokia
initiative which created the Bluetooth Low Energy standard. Today, Nordic
Semiconductor is by far the market leader within the ultra-low power wireless
segment. Nordic Semiconductor (NOD) is a public company listed on the Oslo stock
exchange in Norway.
For more information go to www.nordicsemi.com
This information is subject to the disclosure requirements according to §5-12 in
the Norwegian Securities Trading Act.