DSP Group Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. Revenues were $37,159,000 compared with $35,340,000 a year ago. Operating loss was $396,000 compared with $331,000 a year ago. Loss before income taxes was $87,000 compared with income before income taxes was $289,000 a year ago. Net income was $2,729,000 compared with $356,000 a year ago. Net income diluted per share was $0.12 compared with $0.02 a year ago. Non-GAAP net income was $1,303,000 compared with $1,704,000 a year ago. Non-GAAP diluted net income per share was $0.06 compared with $0.07 a year ago. Cash flows from operations of approximately $6.6 million during the fourth quarter.

For the year, the company reported revenues were $143,036,000 compared with $151,063,000 a year ago. Operating loss was $443,000 compared with operating income was $69,000 a year ago. Income before income taxes was $761,000 compared with $2,526,000 a year ago. Net income was $3,602,000 compared with $2,676,000 a year ago. Net income diluted per share was $0.16 compared with $0.12 a year ago. Non-GAAP net income was $7,276,000 compared with $9,525,000 a year ago. Non-GAAP diluted net income per share was $0.31 compared with $0.41 a year ago. Cash flows from operations were $10.4 million. Cash used for purchase of property and equipment was $1.3 million.

For the first quarter of 2015, the company expects revenues to be in the range of $35 million and $39 million, implying a 13% year-over-year growth at the midpoint. The company expects gross margin to be in the range of 40% and 41%. Financial income is expected to be approximately $0.3 million.