(Oslo ,4 September 2020 )Nordic Semiconductor has seen continued high demand over the summer and avoided any significant disruptions in production and logistics due to the COVID-19 pandemic. As a result, the company increases its revenue guidance for the third quarter 2020 toUSD 112-118 million . In the financial report for the second quarter and first half 2020 the company issued a revenue guidance range ofUSD 95-105 million for the third quarter, highlighting that the global COVID-19 measures still implied risks of supply chain disruptions, and a negative impact on consumer spending and product demand in the second half of the year. -We continue to see positive demand trends, with increasing volume from tier-1 customers and OEM manufacturers. Our supply chain has proven to be very resilient to the logistics challenges that the pandemic has created, says CEOSvenn-Tore Larsen inNordic Semiconductor . As communicated in the second quarter report the company expects a gross margin level around 50%-51% for the third quarter 2020. The order backlog development also indicates a strong outlook for the final quarter of the year.Nordic Semiconductor releases its interim financial report for the third quarter on20 October 2020 , which will include a more detailed review of operations, financials and guiding for the fourth quarter 2020. For further information, please contact:Pål Elstad , CFO Nordic Semiconductor ASA, +47 991 66 293Ståle Ytterdal , IR Nordic Semiconductor ASA +47 930 37 430 AboutNordic 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 electronics, wearables, building and retail, healthcare and an increasing number of other verticals and applications.Nordic Semiconductor (NOD) is a public company listed on theOslo stock exchange inNorway . For more information go to www.nordicsemi.com This information is subject to the disclosure requirements according to Chapter 5 in the Norwegian Securities Trading Act and Chapter 3 ofOslo Stock Exchange's Continuing Obligations of stock exchange listed companies.
Click here for more information
© Oslo Bors ASA, source