(Oslo, Norway – September 18, 2023)
Nordic Semiconductor continues to experience soft demand across its core markets, and the company has not yet seen the signs of improvement that it had expected to see in the second half of 2023. Product shipments for the third quarter have been lower than forecasted, and preliminary figures indicate revenues in the range of USD 135 – 140 million for the third quarter compared to the previously indicated revenue range of USD 145-165 million.
Gross margin for the quarter is expected at 50-51%, compared to the previously communicated expectation of a gross margin above 52%. This reflects the product and customer mix in the period.
Visibility for the rest of the year also remains limited, and the company will not provide any guidance for the fourth quarter before the presentation of the interim results for the third quarter on October 17, 2023, in line with the company’s normal practice.
For further information, please contact:
Pål Elstad, CFO / EVP Finance - Nordic Semiconductor ASA
Phone: +47 991 66 293
Ståle Ytterdal, SVP IR - Nordic Semiconductor ASA
Phone: +47 930 37 430
About Nordic Semiconductor:
Nordic Semiconductor has been a pioneer in ultra-low power wireless solutions, from proprietary technologies for PC accessories to today’s Bluetooth low energy and multiprotocol products and long-range cellular IoT solutions. Nordic Semiconductor is the clear market leader in the ultra-low power wireless segment, serving a growing market in consumer, industrial, healthcare and an increasing number of other verticals and applications. Nordic Semiconductor (NOD) is a public company listed on the Oslo stock exchange in Norway.
For more information, go to www.nordicsemi.com
This information is subject to the disclosure requirements according to §5-12 in the Norwegian Securities Trading Act.
This information is inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.