Dialog had also previously withdrawn guidance for full year because of the uncertainty around the Covid-19 pandemic but in 2Q20 the company has seen stronger than expected demand for tablet and notebook computers and wearable products. This demand is being driven by "lockdown" requirements around the world and the shift to a "work and learn from home" environment, the company said.
The company now expects its 2Q20 revenue to be between $290 million and $305 million compared to the previous guidance of $260 million to $290 million as a result of t4eh Covid-19 pandemic. At the mid-points this represents a rise of 8.2 percent.
Dialog expects to continue to benefit from positive momentum in demand during 3Q20. It will publish its results for the quarter ending 26 June 2020 on 5 August 2020. The second quarter is still expected to be well short of the $482 million revenue in 2Q19, but that quarter benefited from a one of licensing fee from Apple worth $146 million.
Despite the effects of Covid-19 it has today completed its acquisition of Adesto Technologies, a provider of custom chips, Echelon controllers and embedded systems for the IIoT market.
"This acquisition immediately adds scale to our Industrial IoT business, providing our expanded customer base with a broader portfolio of differentiated industrial products," said Jalal Bagherli, CEO of Dialog. "With the combined product portfolio, we now have the unique ability to connect and control from the factory automation line and building automation systems to the cloud. It is with great excitement that I welcome our new colleagues to Dialog following the completion of our acquisition of Adesto."
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