Dolphin Integration: Stable sales turnover on this first semester, with promising bookings

Grenoble, France - April 3, 2012-- The provisional sales turnover of the first fiscal semester of F-12, closed on the 31st of March, reaches M€ 5.7 (pre-audit data), and thus is close to that generated over the same period last year at M€ 5.8.

This amount is reached in a year of transition for our service activities on custom package deals for integrating complete circuits. The company indeed pushed by its selection, in the frame of a project in partnership, as privileged partner of European military equipment makers, has immediately signed-off a first contract of services leading to the supply of integrated circuits, real components!
The sales turnover represented by the sale of circuits developed per customers' specifications is expected to grow from 6.5% last year to 11% this year, thus comforting the basis of recurrent incomes.
The company benefits, for its integration activities, from a rich portfolio of virtual components available off the shelf, in particular its unique offering of regulators. These have earned to it a new notification in the frame of a partnership project code-named « Paradis » for a significant improvement of power supplies for complex SoC (System On Chip). Besides, Dolphin also is the only French company benefiting from the European research project « IcyHeart », contributing a highly integrated solution with a SoC of ultra-low power consumption for wireless cardiac monitoring and control, discomfort-free and energetically efficient.

At the end of this first semester, the company continues reinforcing its cash position. While it owns indeed a claim of Research Tax Credit to the amount of M€ 1.2 on behalf of calendar year 2011, it has earned a cash management credit of k€ 500 until March 2013 in addition to perspectives for an important complementary loan, enhanced by the increase of its credit note by the Banque de France.

Today's situation presents promising perspectives for order booking, with a yearly objective between M€ 18 and 22. Notwithstanding a still rather large uncertainty on the fiscal year concerning the sales turn-over, the company maintains its objective of a two-figure growth rate for this year sales turnover, with profitability.