CSR (Zoran) Third Quarter 2011 Results

CSR plc (LSE: CSR) today reports third quarter results for the 13 weeks to 30 September 2011.

Zoran

With the completion of the Zoran merger on 31 August, Zoran contributed one month of revenues to CSR’s third quarter.

As a result of the Zoran integration, CSR has reorganized its business into three business areas: Auto, Home and Mobile. The Auto business area is largely unchanged from CSR’s previous Auto & PND business unit and will now include a small element of broadband receiver revenue that is sold into the auto market. The Home business represents CSR’s previous Audio & Consumer business unit and now includes Zoran’s digital television, PC & Document Imaging, Set Top Box (STB) and DVD businesses. The Mobile business comprises CSR’s previous Handset business unit as well as both the CSR and Zoran camera businesses.

Home

Q3 2011: 40% of revenues (Q3 2010: 30% of reported revenues)

Revenues in the Home business area were $96.6m (Q3 2010: $67.1m) including a contribution of $20.6m from one month of Zoran. Excluding the Zoran contribution, this represented an increase of 13% from a strong comparable period last year, with stereo audio products performing well both year-on-year and quarter-on-quarter.

Our digital television business performed well in the third quarter, as we started shipping to Sony Corp. which is supplying new TV models to the U.S. market. We will also be supplying to a Tier One company which is increasing volume production for the European market during the fourth quarter. In addition, we are supplying solutions to a new category of 3D gaming TVs for global markets, which are expected to be in retail stores in the first quarter of 2012.

We saw strong momentum in the document imaging area with increasing demand from Tier One manufacturers for our latest range of Quatro chips, which are aimed at the office printer market.