According to the report, the company expects a turnover in the range of 115 to 135 million dollars in the second quarter. This corresponds to a turnover growth of 54 to 81 per cent measured against the turnover in the first quarter.
At the same time, they expect a gross margin of around 50 per cent in the quarter.
Changes in Nordic
The semiconductor company has said after the end of the first quarter that it has established four new business areas; Short-range, Long-range, Wi-Fi and Power Management.
In addition, there has been a change in management after Vegard Wollan took over from Svenn-Tore Larsen in January.
Among other things, Øyvind Strøm is set to lead the Short-Range segment, while Øyvind Birkenes and Joakim Ferm will lead the Long-Range and Wi-Fi segments respectively.
Kjetil Holstad, on the other hand, has been appointed as temporary head of Power Management.
“We invest significant resources in product development, and the new product-centric organizational structure is an important step forward towards generating a higher return on our investments over time. Our overall goal is to return to revenue growth and restore profitability,” says Wollan in the message.
Year of crisis
The Norwegian semiconductor company Nordic Semiconductor has had a tough time since the quarterly presentation for the fourth quarter last year, where one could see for the first time how the company was characterized by lower demand in the consumer market and trouble with wafer allocation.
During 2023, the semiconductor company chose to shelve the goal of reaching a run-rate of $1 billion in revenue in the second half of the year after they realized that the low demand would leave significant marks on revenue going forward.
The company has also stopped reporting changes in the order book, as they previously stated that the order book has not been a good indicator of revenue or demand in the past year.
On Tuesday afternoon, the share was traded at NOK 88.74 per share. share, down 45.9 per cent since New Year last year.
