LONDON Multimedia processor licensor Imagination Technologies Group plc (Kings Langley, England) has turned the corner and recorded pre-tax profits of £1.3 million for the six months ended September compared with a loss of £2.1 million for the corresponding period last year.
Sales at £25.6 million were up by 23 percent on the same period a year ago, with revenues from the licensing side of the business particularly impressive, up by 77 percent when expressed in dollar terms over the same period last year to £8.9 million.
Technology revenues which includes royalties as well as licensing were up by 52 per cent to £14.1million, despite being impacted by the weaker dollar.
Chips shipped by its customers increased to 19.1 million units, compared with 13.3 million units for the first half of the last financial year.
The company says its DAB radio business is thriving and that it has managed to maintain a 70 percent market share in design wins, with products in the pipeline from leading radio brands, including several that will offer Internet connectivity and portal support. The company's Pure Digital operation, which reports in sterling, increased revenues by 8 percent during the period to £11.5 million.
"Based on the active pipeline of licensing opportunities, the expected volume ramp-up in partner chip shipments and the strong position of Pure Digital, we are confident of further significant progress in the current financial year and beyond," commented Hossein Yassaie, Imagination's CEO.
"So far we have made inroads in some of our target markets, with further progress in these and other new markets yet to come. We are more confident than ever about the future prospects and are able to see our way, within approximately three years, to multiple hundred million annual unit shipments by our partners," Yassaie added.