Nordic Semiconductor ASA, a global provider of low power wireless connectivity,
today reported revenues for the first quarter of 2019 of USD 52.6 million,
compared to USD 60.1 million for the corresponding quarter of 2018. 

Bluetooth revenues for the first quarter of 2019 amounted to USD 37.3 million,
down from USD 38.4 million for the first quarter last year. The decrease is
mainly related to reduced demand from China, resulting from the trade tensions
between USA and China. The gross margin increased from 48.9% in the first
quarter of 2018 to 51.0% this quarter.

“As expected, the revenues this quarter is impacted by the uncertainty resulting
from the ongoing trade tensions as previously explained. However, our key
business parameters continue to strengthen. We have a record-high backlog,
driven by new design wins with Tier 1 customers, a 37% increase in end-product
certifications, and we deliver a solid gross margin of 51%, due to our
continuous focus on cost discipline and top-class products,” says Svenn-Tore
Larsen, CEO of Nordic Semiconductor ASA.

The uncertainty related to trade tensions experienced in the first quarter is
expected to continue in the second quarter of 2019. Based on the current
backlog, Nordic provides revenue guidance for the second quarter of 2019 of USD
69 to 74 million. The company expects to maintain a gross margin of around 50%
in the second quarter this year. Guidance for Q2 2019 Capex of USD 5 to 6
million.
 
Nordic maintains its expectations of medium-term normalized annual growth rates
of 20 to 30% for its Bluetooth business and 0 to -10% for its proprietary
business, as communicated in the report for the fourth quarter of 2018. For
cellular IoT, the company expects growth patterns to be broadly in line with
historic Bluetooth growth.

For more information, please see the attached report for the first quarter of
2019.

The management team, represented by CEO Svenn-Tore Larsen and CFO Pål Elstad
will present the company’s results today at 08:00 a.m. CET at Thon Hotel Vika
Atrium in Munkedamsveien 45, Oslo, Norway.

There will be a live webcast from the presentation which can be accessed from
www.nordicsemi.com. The presentation will be held in English. A recorded version
of the presentation will also be available after the broadcast has concluded.


For further information, please contact:

Pål Elstad, CFO
Nordic Semiconductor ASA
Phone: +47 991 66 293

Kine-Elena Reigstad, IR
Nordic Semiconductor ASA
Phone: +47 993 64 116



About Nordic Semiconductor
Nordic Semiconductor has been a pioneer in the field of ultra-low power wireless
solutions since 2002 and was one of the founding members of the Nokia initiative
which created the Bluetooth Low Energy standard. Today, Nordic Semiconductor is
by far the market leader within the ultra-low power wireless segment. Nordic
Semiconductor (NOD) is a public company listed on the Oslo stock exchange in
Norway.

For more information go to www.nordicsemi.com

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Ac