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News Release from: MIPS Technologies
Edited by the Electronicstalk Editorial
Team on 29 July 2005
MIPS records record growth in 2005
MIPS Technologies has reported financial results for its fourth quarter and fiscal year ended 30th June 2005.
MIPS Technologies has reported financial results for its fourth quarter and fiscal year ended 30th June 2005 Revenue for the fiscal year 2005 grew 28% in both royalties and contract revenue compared with fiscal year 2004
This article was originally published on Electronicstalk on 23 Feb 2001 at 8.00am (UK)
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Total revenue for the fourth quarter of fiscal 2005 was $14.3 million compared with $14.2 million for the same quarter a year ago.
Royalties were $7.1 million, an increase of 9% compared with $6.5 million in the same quarter a year ago.
Contract revenue was $7.2 million, a decrease of 6% compared with $7.7 million in the comparable period in fiscal 2004.
Net income for the fourth quarter of fiscal 2005 was $2.7 million compared with a net income of $2.6 million for the same quarter a year ago.
Net income per share on a diluted basis for the fourth quarter of fiscal 2005 was $0.06 compared with a net income per share on a diluted basis of $0.06 for the same quarter a year ago.
Total revenue for fiscal year 2005 was $61.2 million, an increase of 28% compared with $47.9 million in fiscal 2004.
Royalties were $30.0 million, an increase of 28% compared with $23.4 million in fiscal 2004.
Contract revenue was $31.2 million, an increase of 28% compared with $24.4 million in 2004.
Net income for fiscal 2005 was $13.4 million compared with a net loss of $1.5 million in fiscal 2004.
Fiscal 2005 net income per share on a diluted basis was $0.30 compared with a net loss per share of $0.04 in fiscal 2004.
"We are pleased with our annual revenue growth and return to fiscal year profitability".
"With ten new licences this quarter, bringing our total to 43 for the fiscal year, we realised 28% growth in our annual contract revenue", said Casey Eichler, Chief Financial Officer of MIPS Technologies.
"Although licence fees were lower than expected this last quarter, the digital consumer and networking markets in which the MIPS architecture is so successful, continue to offer growth from which we expect to benefit".
"Fiscal year 2005 was marked by the strongest revenue growth in our seven year history, despite a soft fourth quarter", said John Bourgoin, President and CEO of MIPS Technologies.
"Our 24K core family continues to beat the competition in the market, and our new multithreading technology has strong promise as a winner and driver of growth in fiscal year 2006".
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