Business Weekly - Cambridge, UK

Revenues for Q1 were above analysts expectations of £76.5m however, and the Cambridge-based company reported a good start to the year with £80m. It added that it remains on track to meet full year expectations with the continued growth of mobile phone attach rates and anticipated growth beyond the market.

CSR said that profit for the period was at £2.3m, compared with £12.9m a year ago, owing to a less pronounced seasonality than in previous years as well as the exceptional cost associated with the pay-out.

The Bluetooth giant said that it expected a strong second quarter on the back of keen customer demand supported by bookings, forecasting revenues of £97.6m - £110m during the coming period.

“The outlook for 2007 remains positive. We expect mobile handset attach rates to grow to 40% - 50% this year. The market beyond the mobile phone, which now accounts for over 50% of our revenues, will continue to grow. This, together with our first quarter results and forward bookings to date, places CSR on track to meet its expectations for the full year,” said CEO, John Scarisbrick.

Shares in CSR have grown almost four per cent, gaining 29.5p to 798.5p.