LONDON – Processor IP licensor Imagination Technologies Group plc (Kings Langley, England) made a pre-tax profit of £36.8 million (about $57.9 million) on group revenues of £127.5 million (about $200.5 million) for the year to April 30. Group revenue was up 30 percent and the adjusted pre-tax profit was up 53 percent compared with the year before.
The company is divided between an IC technology licensing business and its Pure consumer electronics division. The Pure business, which serves as a showcase for Imagination technologies, was flat with strong overseas sales offsetting a difficult UK retail environment, the company said.
However, on the technology side licensing revenue was up 21 percent compared with the previous financial year to £34.4 million (about $54.1 million) and royalty revenue was up 55 percent to £63.8 million (about $100.3 million). The company's cash balance improved to £66.3 million (about $104.3 million), compared to £49.4 million at the end of the 2011 financial year.
Partners shipped 325 million chips with Imagination IP inside in the year up 33 percent from 245 million units in 2011. About 202 million units shipped in the second half of the financial year compared with 138 million in the second half of the 2011 financial year.
Design wins are increasing with 136 active chip projects and 60 in production compared with year-before figures of 115 and 48.
The company has been particularly successful in signing up licensees in China in the last year including such names as Actions Semiconductor, Allwinner, HiSilicon, Huawei, Ingenic, Rockchip and ZTE.
"The excellent growth in licensing partnerships, which expanded across all our IP families, and significant volume ramp-up resulted in a material jump in full-year revenues and profits," said Hossein Yassaie, CEO of Imagination, in a statement.
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