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DSP Group swings to loss in Q1

DSP Group Inc. said its first-quarter normalized net income came to a loss of 8 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 11 cents per share.

The per-share result swung to a loss from the prior-year profit of 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.8 million, compared with income of $530,630 in the year-earlier period.

The normalized profit margin dropped to negative 6.5% from 1.4% in the year-earlier period.

Total revenue fell 27.3% year over year to $27.7 million from $38.0 million, and total operating expenses declined 17.8% from the prior-year period to $30.8 million from $37.5 million.

Reported net income totaled a loss of $2.8 million, or a loss of 13 cents per share, compared to income of $716,550, or 3 cents per share, in the prior-year period.