U.K. bluetooth microchip maker CSR PLC (CSR.LN) Wednesday became the latest company to suggest the semiconductor segment may have reached a bottom, as it forecast significant revenue and market-share growth in the second quarter.

"We believe that supply chain de-stocking should predominantly cease in the headset segment in the course of the second quarter. Coupled with the normal seasonality, we therefore expect a marked uplift in revenues for the second quarter," the company said in its outlook statement.

CSR said it expects second quarter revenue to rise to between $95 million and $115 million and that it expects to "significantly increase" its market share in the second half of 2009.

Revenue for the first quarter was $80.6 million compared with $160.9 million last year. This beat a Dow Jones consensus of four analysts which forecast revenue at $77.1 million. The drop in revenue was the result of market share loss at Nokia Corp. (NOK), the world's biggest handset maker, weak headset demand overall, and destocking for most business units.

In April, Nokia, one of CSR's key clients, said first quarter net profit fell 90% as a result of slumping demand.

In addition to Nokia CSR supplies chips to customers including Apple Inc. (AAPL), Dell Inc. (DELL), Panasonic Corp. (6752.TO) and Samsung Group.

The consumer electronics segment has been hard hit by the rapid decline in demand caused by the economic slump. Global mobile handset sales are set to decline by 10% this year, according to Nokia.

Still, CSR's more positive outlook for the second quarter mirrors similar signs elsewhere, after European semiconductor chip makers including Infineon Technologies AG (IFX.XE) and STMicroelectronics NV (STM) last week said that the industry may have reached a bottom.

Apple also last month reported an unexpected rise in net income for its second fiscal quarter as sales of the company's iPod and iPhone products came in ahead of expectations, while Intel Corp. (INTC), the world's largest chip maker, said sales of personal computers had bottomed during the first quarter.

CSR Wednesday, meanwhile, reported a net loss of $11.28 million compared with a $41.9 million loss last year.

Underlying operating expenses fell 12.1% to $52.1 million "as a result of continued tight cost control."

CSR's results were ahead of consensus, Panmure Gordon said in an investor note.

"The company continues to make significant operational progress across its product range and should gain market share this year," it said.

At 0936 GMT, however, shares were down 0.8%, or 2 pence lower, at 283 pence in a higher overall London market, having been up in early trade.

The company said its proposed merger with California-based GPS chip manufacturer Sirf Technology Holdings Inc.(SIRF) was on schedule to complete in June.

Company Web site: www.csr.com

-By Erica Herrero-Martinez, Dow Jones Newswires; 44 20 7842 9353; erica.herrero-martinez@dowjones.com