Dolphin Integration Reports a 17 % Growth Rate of their Yearly Turnover on September 30, 2013 to 14.7 M Euros

Grenoble, October 23, 2013 -- Dolphin Integration announces that their annual sales turnover from current operations, prior to their statutory audit, amounts to about 14.7 M€ at the fiscal closing of September 30, in accordance with the budget, with a growth rate of 17% over last year's 12.6 M€. This result highlights the capability of the company to ensure their growth and the enhancement of their offering in a competitive environment, where the big actors of EDA are buying the small historical actors of Silicon IP (Virtual Components).

Market trends

Dolphin Integration indeed evolves in this market of IP noted for its sustained growth (a growth rate expected of 100% between 2009 and 2016 according to Gartner's forecast in June 2012) resulting from the number of functions now integrated into a SoC (System-on-Chip) and from their complexity. The suppliers of standard integrated circuits thus need to more and more rely on third parties like Dolphin Integration for contributing some particularly complex functions in advanced technological processes. These, called Virtual Components, constitute an entry barrier for internal developments.

Competitive positioning

In this context, Dolphin Integration is counted worldwide among the rare actors having set development process and processor farm to enable them to ensure the delivery of duly characterized libraries of elementary design blocks. This position has this year empowered them to pursue their commercial breakthrough at various foundries with a dozen agreements and to be listed from now on in several of their catalogs with a credible and attractive offering, next to the largest EDA actors.

Corporate direction

In accordance with their objectives of synergy between products and services on the one hand, between virtual components and real components on the other hand, Dolphin Integration has achieved this year some sales wins with strategic impact on the service activity for SoC Integration (Systems-on-Chips), which will lead to later sales of a higher quantity of real components, and thus guarantees long term profitability. Indeed the repercussion in terms of sales of real components from now on represents 18% of the sales turnover versus 16% budgeted. As a number of the circuits involved had been designed at the beginning of the years 2000, they shall continue providing margin for years: it shows how much this activity is an asset for the lasting return of the enterprise, and compensates the decrease of budget and actuals for sales of time-based delegation contracts.

But the true success this year amounts to having efficiently reoriented the developments of virtual components (for 60% of the turnover versus 53% budgeted), so that sales prospects may source products from the corporate product offering, ready for use, which clearly shorten their time to market.

Perspectives

Overall, Dolphin Integration enters the new fiscal year with a sales backlog representing four months of average sales in F-14, from which we expect the continuation of a double-digit growth objective for the new fiscal year. Funding for this growth rate shall be based on profit growth, and eventually on financial operations to contribute an appropriate increase of their operating capital for new operations.

The corporation wishes to remind it that complete financial statements and results shall naturally be published in January 2014, after the general assembly of shareholders.

For the Board of Directors, the Executive Chairman,

About Dolphin Integration

The company occupies a key position with sustainable growth in the strategic and deverticalized industry of design for Microelectronics.