Brief: Nordic Semiconductor Sees Q1 2024 Gross Margin At 50%

Nordic Semiconductor ASA

06/02/2024 06:40

Feb 6 (Reuters) - Nordic Semiconductor ASA  NOD.OL :
    * BLUETOOTH CUSTOMERS REMAINED CAUTIOUS AND CONTINUED TO
DRAW ON
INVENTORIES ALSO IN Q4
    * PROPRIETARY REVENUE IS BEGINNING TO STABILIZE, ALTHOUGH AT
A
RELATIVELY LOW LEVEL, AND CELLULAR IOT REVENUE SHOWED A
SEQUENTIAL IMPROVEMENT
    * MARKET IS IN A CYCLICAL DOWNTURN WITH MACRO HEADWINDS
    * SEES LOW REVENUE IN Q1 OF 2024 DUE TO CONTINUED INVENTORY
ADJUSTMENTS AS WELL AS A MORE NORMAL SEASONALITY
    * TOTAL REVENUE IS EXPECTED TO FALL WITHIN RANGE OF USD
70-80
MILLION IN Q1
    * COMPANY IS NOT OFFERING ANY REVENUE GUIDANCE BEYOND
CURRENT
QUARTER
    * GROSS MARGIN IS EXPECTED AT AROUND 50% FOR Q1 2024
    * OUTLOOK: TOTAL REVENUE IS EXPECTED  TO FALL WITHIN THE
RANGE OF
USD 70-80 MILLION IN THE  FIRST QUARTER
    * OUTLOOK: GROSS MARGIN CAME IN AT 52% FOR THE FOURTH
QUARTER, 
AND IS EXPECTED AT AROUND 50% FOR THE FIRST QUARTER  2024
    * OUTLOOK: COMPANY REITERATES ITS LONG-TERM AMBITION TO 
MAINTAIN
A GROSS MARGIN LEVEL ABOVE 50%

Source text for Eikon:  ID:nObiPdcL6a 
Further company coverage:  NOD.OL 

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