Leading experts in embedded software development

Product category: Intellectual Property Cores
News Release from: MIPS Technologies
Edited by the Electronicstalk Editorial Team on 30 April 2007

Company holds back earnings report

Register for the FREE Electronicstalk email newsletter now! News about Intellectual Property Cores and more every issue. Click here for details.

MIPS Technologies is delaying the release of its MIPS third quarter fiscal 2007 earnings, pending a report on its treatment of option grants

MIPS Technologies has reported revenue results for its third quarter of fiscal 2007, ended March 31st, 2007, which are consistent with the preliminary revenue results announced on April 4th, 2007. Additionally, the company provided a update on the investigation of historical stock-based compensation practices by a special committee of independent directors.

Revenue in the third quarter was US $19.1 million, an increase of 9% from the US $17.5 million in revenue reported in the third fiscal quarter a year ago and a decrease of 8% from the US $20.8 million reported in the prior quarter.

Revenue from royalties was US $10.7 million, an increase of 15% from the US $9.3 million reported in the third fiscal quarter a year ago and a decrease of 4% from the US $11.2 million reported in the prior quarter.

Contract revenue was US $8.3 million, an increase of 2% from the US $8.2 million reported in the third fiscal quarter a year ago and a decrease of 13% from the US $9.6 million reported in the prior quarter.

As previously announced, MIPS Technologies formed a special committee of independent members of its Board of Directors to review the company's historical option grant practices and the company's accounting for its option grants.

Although the formal investigation concluded in January, the detailed accounting and related tax impact analysis has not been completed.

Therefore, MIPS is not releasing third quarter fiscal 2007 earnings at this time.

'MIPS experienced good licensing activity during the quarter, although, as we previously announced, our revenues were impacted by the movement of two licenses from the third quarter to the fourth quarter'.

'These licenses are now signed', said John Bourgoin, President and CEO.

'We made several significant announcements in the last 30 days, including MIPS 64 architecture licenses with STMicroelectronics and NEC Electronics'.

'The STMicroelectronics agreement is our first with them and should have positive implications for MIPS' business in China'.

'We were also very pleased to complete a licensing agreement with Trident Microsystems, ending the patent and trademark infringement lawsuit we filed last December and adding a significant provider of digital TV technology to our growing customer list', Bourgoin said.

? MIPS Technologies: contact details and other news
? Email this article to a colleague
? Register for the free Electronicstalk email newsletter
? Electronicstalk Home Page

Related Business News

Cast Selects Avery Design Systems For...
...Pci Express Verification Ip. Semiconductor intellectual property provider CAST, Inc. today announced that it has begun using the PCI-Xactor test environment from Avery Design Systems to verify its current and future PCI Express IP cores.

Vsia Announces Release Of Qip Metric...
...Now Publicly Available With Hard Ip Extension. The VSI Alliance , the leading IP standards body for the electronics industry, today announced the Quality IP Metric version 3.0, which includes the hard IP extension, is now publicly available.

Gda Technologies Selected By Renesas Technology...
...For Pci Express To Amba Axi Bridge. Gda Technologies, Inc., a fast growing supplier of Intellectual Property and Electronic Design Services , today announced that Renesas Technology Corp., a leading semiconductor company, has selected GDA for development of a PCIE 2 AMBA AXI Bridge to be

Atmel Licenses ARM1176JZF-S Processor
Rousset, France (ots/PRNewswire) - - Extends Atmel's Roadmap of Upwards-Compatible ARM Technology-Based on 32-bit Microcontrollers From the ARM7 Family Through to the ARM9 and ARM11 Families Atmel(R) Corporation (Nasdaq: ATML) announced ...

ots: Atmel Licenses ARM1176JZF-S Processor
Börsennachrichten und aktuelle Meldungen aus Wirtschaft und Finanzen. Marktberichte und News zu Investmentbanking und Fonds - Börsennachrichten bei Stock World.

Search the Pro-Talk network of sites

Leading experts in embedded software development