Product category:
Intellectual Property Cores
News Release from: ARC International
Edited by the Electronicstalk Editorial
Team on 03 August 2006
Contract boost raises ARC's expectations
ARC International has announced its unaudited financial results for the six months ended 30th June 2006.
ARC International has announced its unaudited financial results for the six months ended 30th June 2006 Highlights from the first half of 2006 (compared with H1 2005) included: revenue up 10% to GBP 6.0 million; royalties up 32% to GBP 1.5 million; bookings up 31% to a record GBP 8.3 million; cash generated from operating activities was GBP 0.5 million; net loss was GBP 1.7 million; and processor licence agreements up 18%
This article was originally published on Electronicstalk on 20 Feb 2001 at 8.00am (UK)
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Commenting on the company's performance, Carl Schlachte, President and Chief Executive Officer, said: "During the first half of 2006, the company delivered a good financial performance by closing the highest number of contracts in the company's recent history and aggressively selling our newest configurable subsystems and processors".
"ARC has a strong foundation that will support the company's continued growth into the future".
"For the second half of 2006, ARC will focus on winning more tier-one licensees while making strategic investments to boost our ongoing sales and marketing efforts in key regions".
"We are optimistic about the prospects for the company and confident about trading in the second half of this year".
Commenting on the financial results, Victor Young, Chief Financial Officer, said: "We are seeing increased opportunities and new business fuelled by our multimedia subsystems, as evidenced by the increase in backlog and sales pipeline".
"Costs were slightly ahead of plan, due to higher sales commissions related to the increase in revenues in Asia, increase in professional fees, and other investments made in growing ARC's subsystem offerings".
"Bookings in Asia increased by approximately four times compared with the same period a year ago".
"We look for continued revenue growth in the second half of 2006".
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