Product category: Microprocessors, Microcontrollers and DSPs
News Release from: ARM
Edited by the Electronicstalk Editorial Team on 24 October 2003
Revenue and profit
increases again for ARM
ARM Holdings has released its unaudited financial results for the third quarter and nine months ended 30th September 2003
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For the third quarter ended 30th September 2003 revenues were GBP 31.7 million, up from GBP 31.4 million in Q2 2003. Licence revenues amounted to GBP 13.1 million, up from GBP 12.7 million in Q2 2003. 16 licences for microprocessor cores were signed in the quarter, compared with 11 in the second quarter.
Seven new partners signed in the quarter.
Royalty revenues were GBP 11.0 million with record unit shipments of 188 million units (52% up on Q3 2002).
Five new partners commenced shipping in the quarter.
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Operating margin increased to 17.7%, up from 17.2% in Q2 2003.
Profit before taxation was GBP 6.8 million, 4% higher than Q2 2003.
Net cash generation in the quarter was GBP 10.4 million.
The cash balance was GBP 151.4 million at end Q3 2003, up from GBP 141.0 million at end Q2 2003.
Commenting on the third quarter results, Warren East, Chief Executive Officer, said: "Following the up-tick in licensing activity in Q2, we are pleased to see the promising mix of licence deals in Q3 between new and existing partners, across a range of licensing models.
We see this improvement arising both as a result of the increased adoption of the ARM architecture among semiconductor companies and of the timing of the ARM11 product cycle.
New product introductions are expected to continue to drive further licensing opportunities, however we remain cautious as to when ARM's licensing revenues will benefit from any general semiconductor recovery".
Tim Score, Chief Financial Officer, added: "We are encouraged by further sequential increases in revenues and profits and by the generation of more than GBP 10 million of cash in the third quarter.
Nevertheless, we intend to continue to manage our cost base carefully as the timing of any general industry-led upturn in licensing activity levels remains uncertain".
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