SAN JOSE, Calif. -- Amid a buying spree, Virage Logic Corp. posted sales of $13.1 million for the quarter, down from $15.5 million a year ago.
Net loss for the fourth quarter ended Sept. 30, on a GAAP basis was $3.2 million, or minus $0.14 per share, compared with a net loss of $47,000, or break-even, in the fourth quarter of 2008.
In a statement, Virage President and CEO, Alex Shubat, said: "We grew our license revenues from $10.7 million in the third quarter to $10.9 million in the fourth quarter. Our royalty revenue grew from $1.2 million to $2.2 million as foundry utilization increased.''
For the 2009 fiscal year net loss was $34.1 million or minus $1.48 per share fully diluted compared to net income of $0.6 million or $0.02 per share for fiscal 2008.
For fiscal 2009, total revenues were $47.4 million compared to $59.3 million for the prior year, according to Virage (Fremont, Calif.).
For the first quarter fiscal 2010, Virage is projecting revenues of $18.5 million to $19.0 million and non-GAAP EPS results of $0.02 to $0.04 per share.
In August, Virage declared its interest in buying ARC International plc. Recently, Dutch chip company NXP BV (Eindhoven, The Netherlands) agreed to transfer part of its advanced CMOS intellectual property (IP) rights, 160 staff and certain engineering equipment to Virage. In a complex deal NXP is set to receive 2.5 million Virage Logic shares but must pay Virage $60 million for design services it expects to receive from Virage.
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