Dolphin Integration -- A 19% growth rate of the mid-year sales turnover in an industry disturbed by the crisis

Grenoble, Ffrance -- April 21, 2009 -- The sales turnover of the first fiscal semester F-09, closed on March 31, reaches 5.6 M€, with an increase of 19% above the sales turnover generated over the same period last year, namely 4.712 k€.

While the worldwide production of integrated circuits has declined by 21.8% by the fourth quarter of 2008 according to the SICAS (Semiconductor International Capacity Statistics) and the silicon foundries announce severe personnel lay-offs, the Dolphin Group, concentrated on the sale of virtual components to Fabless Circuit Integrators, meets the needs of these customers who are preparing the future. Indeed, if some integrators are postponing their projects out of lack of vision, others – the most sturdy ones, and essentially on the Asian region, excepting some large occidental accounts who have remained enterprising during the present crisis – bet on innovation, by leaning on the Dolphin offering, to improve their competitiveness and earn their exit from the crisis.

The Order portfolio on March 31 thus represents 86 days of sales turnover, notwithstanding a slowdown of the service activity in personnel delegation (now at 26 % of the total sales turnover) related to the low of activity of our French customers.

k€ (September 30 closing)	F-09	F-08	F-07	F-06
Half-year SI	5 612	4 712	5 073	4 045
Half year SII		6 400	6 509	5 979
Yearly sales turnover		11 112	11 582	10 024

On this context, the company extends its innovation strategy with four patents being registered and does not hesitate – thanks to the opportunity due to the crisis – to hire candidates with an experimented and competent profile in domains which can wisely complement its know-hows and thus its commercial offering.

Over this half-year, Dolphin besides has consolidated its financial status by transforming its bank short-term advances into mid-term loans. It benefits also from State subsidies to innovation through the Research Tax Credit and research projects labellized by the local competitiveness MINALOGIC.

In the current economic environment, the company remains prudent about announcing any yearly objective of sales turnover even if, on the strength of this first semester, a 15% growth rate for the sales turnover is a minimum expected this year. Dolphin has always known how to bounce back over the crisis, and it aims this time at using it as a trampoline toward the new economic era which demands circuits with very low power consumption.

About Dolphin Integration

The company occupies a key position with sustainable growth in the strategic industry of design for Microelectronics in the midst of fast deverticalization. www.dolphin.fr