Dialog Semi reviews guidance as Chinese holiday boosts third quarter sales

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Dialog Semi reviews guidance
Dialog semiconductor logo is pictured at a company building in Germering near Munich, Germany August 15, 2016. REUTERS/Michaela Rehle

Dialog Semiconductor (DLGS.DE), the maker of chips used in Apple and Samsung Electronics’ smartphones, said it was reviewing its full-year guidance after a Chinese holiday helped bolster third-quarter sales.

Sales for the three months through September came to around $345 million, Dialog said late on Wednesday, up 40 percent from the second quarter and almost 5 percent above the year-earlier level, as orders for mobile chips were brought forward due to China’s National Day holiday.

The news comes after a disappointing second quarter in which sales and operating profit dropped, prompting Dialog to cut its full-year sales guidance to forecast a drop by around 15 percent on softness in the smartphone market.

Dialog, which is due to publish full third-quarter financial results on Nov. 3, makes chips that manage power consumption of consumer electronic devices such as smartphones and tablet computers. Apple Inc (AAPL.O) and Samsung Electronics (005930.KS) are among its main customers.

(Reporting by Maria Sheahan; Editing by Chris Reese)

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