Product category:
Intellectual Property Cores
News Release from: MIPS Technologies
Edited by the Electronicstalk Editorial
Team on 18 April 2001
Best quarter ever for MIPS
MIPS Technologies has reported financial results for its third fiscal quarter, ending 31st March 2001.
MIPS Technologies has reported financial results for its third fiscal quarter, ending 31st March 2001 Revenue for the third quarter of fiscal 2001 was a record $27.8 million compared with $27.0 million for the same quarter a year ago and represents a 40 percent growth in total revenue when royalties from Nintendo 64 products are excluded
This article was originally published on Electronicstalk on 23 Feb 2001 at 8.00am (UK)
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Contract revenue was $11.7 million, an increase of 33 percent compared with $8.8 million in the comparable period in fiscal 2000.
Royalties were $16.1 million, a decrease of 11 percent compared with $18.1 million in the same quarter a year ago due to lower royalties from Nintendo 64 video game products.
Royalties excluding royalties from Nintendo 64 were $4.1 million, an increase of 65 percent compared with $2.5 million in the same quarter a year ago.
Further reading
64bit soft core has integral floating-point unit
In response to customer demand for a 64bit synthesisable processor core with floating point, MIPS Technologies has introduced the MIPS64 5Kf core.
Boosted performance for 32bit soft core
MIPS Technologies has launched its next generation 32bit, high-performance, low-power core, the MIPS32 4KE family.
Net income for the third quarter of fiscal 2001 was $8.4 million compared with $10.3 million for the same quarter a year ago.
The income tax rate provision for the first nine months of fiscal 2001 was reduced from 40 percent to a 38.5 percent effective annual rate.
The diluted net income per share for the third quarter of fiscal 2001 was $0.21 compared with $0.26 for the same quarter a year ago.
Pro-forma diluted EPS excluding Nintendo 64 revenue for the third quarter of fiscal 2001 was $0.02 compared with $0.02 for the same quarter a year ago.
"We are pleased with our third quarter results in what continues to be a difficult technology environment", said Casey Eichler, chief financial officer.
"Although we are cautious when looking at the short-term environment, we continue to be optimistic about our long-term business model and the markets we are focused on with our product strategy.
Consequently, MIPS continues to invest in its product roadmap and the supporting infrastructure to capitalise on what we believe is an exciting high-growth market opportunity as one of the leading providers of licensable intellectual property to the embedded markets".
"MIPS' third fiscal quarter was, by several metrics, our best quarter ever", said John Bourgoin, chairman and CEO.
"In addition to record revenues, our licensing activity reached a record 9 new agreements signed during the quarter.
During the last 4 quarters, we entered into a total of 28 new license agreements for MIPS cores and architectures, an 87 percent growth from the 4 prior quarters.
Royalty levels, excluding royalties from Nintendo, have risen despite difficult market conditions.
Internally, MIPS has seized the opportunity presented by weak performance at other companies to add key technical personnel to its staff.
Clearly, there are revenue challenges ahead due to weak market conditions, but MIPS remains on track for strengthening its product offering and its position as a leading IP supplier".
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