DSP Group, Inc. (DSPG) saw its loss narrow to $2.87 million, or $0.13 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $2.91 million, or $0.13 a share. On the other hand, adjusted net loss for the quarter narrowed to $1.09 million, or $0.05 a share from a loss of $1.69 million or $0.08 a share, a year ago.
Revenue during the quarter went up marginally by 0.99 percent to $27.93 million from $27.66 million in the previous year period. Gross margin for the quarter expanded 148 basis points over the previous year period to 43.84 percent. Operating margin for the quarter stood at negative 12.28 percent as compared to a negative 11.45 percent for the previous year period.
Operating loss for the quarter was $3.43 million, compared with an operating loss of $3.17 million in the previous year period.
Commenting on the results, Ofer Elyakim, CEO of DSP Group, stated, "Our first quarter performance reflects continued improvement in our non-GAAP gross margin of 160 bps to 44.2%, and execution of our new products strategy as evidenced by the solid year-over-year revenue growth of 30% and 42% in our Office/VoIP and IoT businesses, respectively. These initiatives, together with a modest recovery in our cordless business, more than offset the expected temporary shortfall in HDClear revenues."
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