Product category:
Intellectual Property Cores
News Release from: MIPS Technologies
Edited by the Electronicstalk Editorial
Team on 24 October 2005
Licensing delays put MIPS in the red
MIPS Technologies has reported financial results for its first fiscal quarter ended 30th September 2005.
MIPS Technologies has reported financial results for its first fiscal quarter ended 30th September 2005 Revenue for the first quarter of fiscal 2006 was down by 18% compared with the same period a year ago, primarily as the result of delayed licensing decisions
This article was originally published on Electronicstalk on 23 Feb 2001 at 8.00am (UK)
Related stories
MIPS at the core of advanced smart cards
New from MIPS Technologies, the MIPS32 4KSc smart card core is a high-performance, synthesisable embedded 32bit processor core for ultra-low-power advanced smart card applications.
TSMC delivers hard core processors for MIPS fans
MIPS Technologies has announced the availability of "hard core" versions of its MIPS32 4Kc and 4Km 32bit processor cores.
Total revenue for the first quarter of fiscal 2006 was $11.9 million compared with $14.6 million for the same quarter a year ago.
Royalties were $8.1 million, an increase of 20% compared with $6.7 million in the same quarter a year ago.
Contract revenue was $3.9 million, a decrease of 51% compared with $7.9 million in the comparable period in fiscal 2005.
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 loss for the first quarter of fiscal 2006 on a generally accepted accounting principles basis was $3.9 million compared with a net income of $3.1 million for the same quarter a year ago.
GAAP net loss per share for the first quarter of fiscal 2006 was $0.09 compared with a net income per share of $0.07 on a fully diluted basis for the same quarter a year ago.
Beginning in the September 2005 quarter, the company recognised equity-based compensation expense pursuant to the fair value method under SFAS 123.
This expense was $6.1 million in the first quarter of fiscal 2006.
First quarter of fiscal 2006 operating expense also included a one-time charge of $570,000 for acquired in-process research and development expense related to the acquisition of First Silicon Solutions (FS2) completed in September 2005.
Non-GAAP net income for the first quarter of fiscal 2006, which excludes the effects of these items, was $1.3 million or $0.03 per diluted share compared with net income of $3.3 million or $0.08 per diluted shares for the same quarter a year ago, for which period the non-GAAP number excludes certain restructuring costs.
"The growth in our royalty revenue is encouraging as the MIPS architecture continues to be the processor architecture of choice in key growth markets such as digital consumer and networking", said Casey Eichler, Chief Financial Officer of MIPS Technologies.
"We are disappointed however by the licensing revenue realised in the first quarter and are taking actions to strengthen and build up our pipeline of prospective licensees".
"Although our royalty growth indicates the resumption of a long term upward trend in the shipments of MIPS-based processors, we recognise a need to take action to facilitate our return to licensing revenues at a level that supports our long term growth plans", said John Bourgoin, President and CEO of MIPS Technologies.
"I'd like to emphasise that our engineering execution on our next generation products during the quarter was excellent".
"This is one of the keys to our long term growth, and it is on track".
"I'm also pleased with the acquisition of First Silicon Solutions during the quarter which broadens the MIPS offering and brings us a world class tools capability in support of our customers".
• MIPS Technologies: contact details and other news
• Email this article to a colleague
• Register for the free Electronicstalk email newsletter
• Electronicstalk Home Page
Search the Pro-Talk network of sites
