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Tech Industry

DSP earns $10.4 million in 3Q

Intel's next acquisition earned $10.4 million in the third quarter.

In third quarter results released after market close Friday, communications chip manufacturer DSP Communications (NYSE: DSP) reported net income of $9.7 million, or 22 cents per share, not including an income-tax benefit. Including a $712,000 tax boost related to tax assessments for Israeli subsidiaries, DSP earned $10.4 million, or 24 cents per share.

First Call's survey of 11 analysts predicted a profit of 23 cents per share for the quarter ended Sept. 30.

On Thursday, Intel announced plans to buy DSP for $1.6 billion.

Third quarter revenue rose to $41.2 million, an 18 percent gain from the year ago period, when DSP earned $8.7 million, or 21 cents per share.

Shares of DSP gained 1/8 to 35 1/16 in Friday's regular trading, prior to the earnings report.>