Product category:
Intellectual Property Cores
News Release from: MIPS Technologies
Edited by the Electronicstalk Editorial
Team on 21 April 2005
MIPS revenues surge by a third
MIPS Technologies has reported financial results for its third fiscal quarter ended 31st March 2005.
MIPS Technologies has reported financial results for its third fiscal quarter ended 31st March 2005 Revenue for the third quarter of fiscal 2005 grew 33% compared with the same period a year ago, the result of continued solid licensing of the MIPS32 24K and 4KE core families along with strong royalties from the growing digital consumer and networking markets
This article was originally published on Electronicstalk on 23 Feb 2001 at 8.00am (UK)
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Total revenue for the third quarter of fiscal 2005 was $16.8 million compared with $12.6 million for the same quarter a year ago.
Contract revenue was $8.2 million, an increase of 23% compared with $6.7 million in the comparable period in fiscal 2004.
Royalties were $8.6 million, an increase of 45% compared with $5.9 million in the same quarter a year ago.
Net income for the third quarter of fiscal 2005 was $4.0 million compared with a net income of $1.2 million for the same quarter a year ago.
Net income per share on a diluted basis for the third quarter of fiscal 2005 was $0.09 compared with a net income per share of $0.03 for the same quarter a year ago.
"Robust licensing activity, driven by the 24K core family but evident throughout our entire product line, resulted in 11 new licences this last quarter", said Casey Eichler, Chief Financial Officer of MIPS Technologies.
"Six of these new agreements represent business from new licensees, bringing the total number of licensees to over 100".
"Royalties continue to reflect the increasing number of new and existing MIPS-based applications found in the dynamically growing digital consumer and networking markets".
"The breadth and strength of our licensee base is evidenced not only in our royalty growth this quarter, but also by the fact that over half of our royalty paying customers generated more than $100,000 in quarterly royalties", said John Bourgoin, President and CEO of MIPS Technologies.
"Our licensing revenue also grew again as global industry leaders and startups alike continue to realise the compelling cost, power, and performance advantages of designing their SoCs with MIPS-based solutions from MIPS and our licensees".
"The 24K and 4KE core families in particular, continue to hit the 'sweet spot' of higher total system performance with low power and area savings for a broad range of digital entertainment and networking applications".
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