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Article: Profits slide at CSR.
- Article from:
- Investors Chronicle - magazine and web content
- Article date:
- July 30, 2008
CopyrightCOPYRIGHT 2008 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Malar Velaigam
RESULTS: A tough first half for CSR, and it doesn't look like it's going to get any easier
Bluetooth specialist CSR plunged into the red as the group increased its research and development (R&D) spend and wrote off $52.9m (GBP26.7m) following the decision to discontinue investment into its UbiNetics protocol software.
Revenues at the half year also slipped, although trading in the second quarter improved after the introduction of hands-free driving legislation in California and Washington boosted demand for Bluetooth headsets. But management expects the year's performance to be "framed by the economic environment", ...