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Nordic Semiconductor flags higher Q4 income, margins

OSLO, Jan 14 (Reuters) – Nordic Semiconductor (NOD.OL) on Friday mentioned its income and margins had exceeded expectations within the ultimate quarter of 2021, and that demand remained robust throughout all its markets.

Revenue for the October-December interval amounted to $171 million, preliminary knowledge confirmed, above the corporate’s personal steering of $150 million-$170 million, the Norwegian agency mentioned in an announcement.

Analysts had on common anticipated income of $163 million, in accordance with Refinitiv Eikon knowledge.

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“Our fourth-quarter and full-year revenue figures reflect continued strong performance across all our end-user markets,” Chief Executive Svenn-Tore Larsen mentioned.

Oslo-listed Nordic Semiconductor’s gross earnings margin for the quarter is now seen in a variety of 58%-59%, considerably higher than the 51%-53% it had initially anticipated.

“The exceptionally high gross margin reflects a one-off effect of price adjustments for the company’s products,” Nordic mentioned.

Adjusting for these one-off pricing results, the underlying gross margin was roughly 53% within the fourth quarter, it added.

Nordic sells wi-fi chips and gadgets designed for ultra-low energy consumption, that are utilized in all kinds of electronics and computer systems, however doesn’t itself manufacture the silicon wafers used within the merchandise.

The firm’s shares have risen by 93% within the final 12 months, valuing the agency at $6.2 billion. The shares have dropped 6.7% to date in 2022 nevertheless, together with a decline in international tech shares.

Nordic Semiconductor’s fourth-quarter earnings report is due on Feb. 3.

($1 = 8.6736 Norwegian crowns)

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Reporting by Terje Solsvik; enhancing by David Evans

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