Product category:
Intellectual Property Cores
News Release from: MIPS Technologies
Edited by the Electronicstalk Editorial
Team on 23 January 2006
MIPS returns to normal levels of
activity
MIPS Technologies has reported financial results for its second fiscal quarter ended 31st December 2005.
MIPS Technologies has reported financial results for its second fiscal quarter ended 31st December 2005 Revenue for the second quarter of fiscal 2006 increased by $4.4 million compared with the prior quarter ending 30th September 2005, the result of solid licensing activity and increases in royalties
This article was originally published on Electronicstalk on 23 Feb 2001 at 8.00am (UK)
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Total revenue for the second quarter of fiscal 2006 was $16.4 million, an increase of 5% compared with $15.5 million for the same quarter a year ago.
Royalties were $8.9 million, an increase of 18% compared with $7.6 million in the same quarter a year ago.
Contract revenue was $7.4 million, a decrease of 6% 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 income for the second quarter of fiscal 2006 on a generally accepted accounting principles (GAAP) basis was $2.4 million compared with a net income of $3.5 million for the same quarter a year ago.
GAAP net income per share on a diluted basis for the second quarter of fiscal 2006 was $0.05 compared with a net income per share of $0.08 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 123R.
This expense for the second quarter ending 31st December 2005 was $2.1 million.
Non-GAAP net income for the second quarter of fiscal 2006, which excludes the effect of the stock option expense was $4.3 million or $0.10 per diluted share compared with net income of $3.5 million or $0.08 per share for the same quarter a year ago.
"We are pleased with our second quarter results and the return to more normal levels of licensing activity", said Merv Kato, Chief Financial Officer of MIPS Technologies.
"Agreements signed this quarter indicate that our solutions are compelling for a wide range of applications the world over".
"This same growth trend was exhibited in our royalty stream as licensees continue to deliver numerous MIPS-based products to the consumer and networking markets".
"This quarter's solid growth in both licensing activities and royalty revenue reflect both the compelling nature of our product line, as well as the robust design activity of our licensees", said John Bourgoin, President and CEO of MIPS Technologies.
"We are particularly pleased that a significant portion of our license revenue came from new technology products, indicating that our superior value proposition is well-recognised".
"Our royalties in the markets other than video games reached record levels, indicating ongoing and broad based growth in the production of MIPS-based products worldwide".
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