Bluetooth demand in mobiles drives CSR success
Massive demand for Bluetooth wireless technology for new mobile phone applications has handed CSR record results for the second quarter of 2006 and the first half – and sent the Cambridge company’s share price rocketing 49p - almost 5 per cent – to 1142p.A strong outlook for a new wave of orders could drive the stock even higher. Revenue for the first half to June 30 was 97 per cent higher year-on-year at £172.8m while pre-tax interim profit was 128 per cent up on this time last year at £ 37.86m.
Second quarter revenue was 92 per cent ahead at £ £99.3m with pre-tax profit 123 per cent higher at £23.58m.
CEO John Scarisbrook said it was a record first half for revenues, profits and operating cash flow.
He said: “The results reflect the growth of the Bluetooth market, the strength of CSR’s position and our ability to maintain margins.
“We were delighted to ship over 100 million units in the first half of 2006 – this represents around one-third of the total Bluetooth shipments CSD has made lifetime to date.
“We continue to see significant opportunities in the Bluetooth market, with estimates ranging from 500 to 550 million unit shipments for the whole of 2006, compared to 317 million units in 2005.
“This rapid growth is being driven by increasing attach rates in the important mobile phone segment where CSR is well positioned as well as the continued adoption of Bluetooth in non-celullar applications. These results put us well on track to meet excpectations for the full year.”