LONDON Configurable processor IP licensor ARC International confirmed its revenues for the six months ended June 30 were £5.4 million ($9.4 million), down 13 percent compared with the same period last year.
Revenues were 10 percent up year-on-year if the losses made on the peripherals business, now disposed of, are excluded.
Licensing and engineering income, the biggest part of the company’s operations, was £3.4 million ($6 million) for the underlying business in the period, an improvement of 25 percent year-on-year.
“We have had a good half, and continue to be confident of our strategy going forward”, Derek Mayer, vice president of marketing told EE Times .
Despite a slow first quarter, business strengthened considerably over the past few months and Meyer said the company is optimistic about prospects for the second half of the year.
He added the early adopter program for the company’s multimedia subsystem is bringing in new contracts and contacts, including companies looking at the audio/video combination for mobile digital TV applications.
Net losses for the period were £1.4 million ($2.4 million), compared with the £2.9 million of losses for the first half of 2004.
Commenting on operations for the first six months, Carl Schlachte, president and CEO, said: "In the first half of 2005, ARC passed the 100 customer milestone with 17 new processor contracts, a 55 percent year-on-year gain from the 11 licenses signed in the first half 2004. Many of these companies are driving high-growth embedded markets, including smart cards and biometrics applications. Seven of these customers were new licensees.”