Chipmaker ARM thrives despite slump

UK chip designer ARM Holdings is continuing to thrive despite the continued slump in the IT market, and on Monday announced 42 percent revenue growth for the three months ended 30 September. The results arrive on the back of several high-profile deals for the company, whose designs run in a variety of portable devices like mobile phones and handheld computers.

UK chip designer ARM Holdings is continuing to thrive despite the continued slump in the IT market, and on Monday announced 42 percent revenue growth for the three months ended 30 September.

The results arrive on the back of several high-profile deals for the company, whose designs run in a variety of portable devices like mobile phones and handheld computers. Intel and Texas Instruments both reaffirmed long-standing relationships with ARM and Microsoft shifted the new version of its PocketPC operating system to ARM-based processors.

Revenues were up 42 percent from the same quarter the previous year to £37.6m, or 4 percent up from the previous quarter. Profits before tax were up 46 percent from the same quarter last year, to £12.9m. That figure is 6 percent up from the previous quarter.

For the nine months so far this financial year, revenues were up 50 percent from last year to £106.1m.

"Despite difficult market conditions in the electronics industry, our business continues to deliver strong performance and we continue to experience high demand for our products and services. We were encouraged to see that unit shipments grew, driven by a further five partners commencing shipments in the quarter to 30 June," said executive chairman Robin Saxby in a statement. --Matthew Broersma, ZDNet UK