Product category:
Intellectual Property Cores
News Release from: MIPS Technologies
Edited by the Electronicstalk Editorial
Team on 25 October 2004
Sixth consecutive quarter of growth for
MIPS
MIPS Technologies has reported financial results for its first fiscal quarter ended 30th September 2004.
MIPS Technologies has reported financial results for its first fiscal quarter ended 30th September 2004 Revenue for the first quarter of fiscal 2005 grew 40% compared with the same period a year ago, primarily as the result of significant licensing activity in MIPS32 24K cores
This article was originally published on Electronicstalk on 23 Feb 2001 at 8.00am (UK)
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Total revenue for the first quarter of fiscal 2005 was $14.6 million compared with $10.4 million for the same quarter a year ago.
Contract revenue was $7.9 million, an increase of 48% compared with $5.3 million in the comparable period in fiscal 2004.
Royalties were $6.7 million, an increase of 32% compared with $5.1 million in the same quarter a year ago.
Net income for the first quarter of fiscal 2005 was $3.1 million compared with a net loss of $5.8 million for the same quarter a year ago.
Net income per share on a diluted basis for the first quarter of fiscal 2005 was $0.07 compared with a net loss per share of $0.14 for the same quarter a year ago.
"Although the overall environment has slowed in the second half of 2004, we are seeing strong demand and revenue growth", said Casey Eichler, Chief Financial Officer of MIPS Technologies.
"The demand for all product families is strong, but the 24K core family is driving the top line as the 'right product at the right time' as it is very competitive in many markets".
"This is complemented by a continued growth in royalties as we continue to receive the benefits of our customers' introduction of MIPS-based products in numerous embedded markets".
"The dramatic cost and performance advantage of our 24K core family is now well established", said John Bourgoin, President and CEO of MIPS Technologies.
"Customers around the world, including companies with long alliances to competitor products, are recognising that this core family will bring significant advantages to their new products".
"With 11 licenses completed in only six months following introduction, the 24K core family is by far the fastest growing MIPS' product in our history".
"This sets the stage for continued proliferation of the MIPS architecture into consumer and communications markets".
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