UK-based Imagination Technologies has announced its half-yearly results, for the six months to 31 October 2011. Group revenues as a whole are up 28% to £56.3m, with technology revenues increasing 41% to £42.6m. The company beaks those down into licensing revenues up 65% and royalty revenue increasing 26%.
This resulted in a reported pre-tax profit of £10.4m (up 35% from the £7.7m in 2010). The earnings per share are reported as up 48% to 4.9p, and the company's cash balance increased to £56.1m, up from the £49.4m previously reported for 30 April 2011.
"The continued strong demand for our technologies has again resulted in a material jump in our half-year revenues and profits," said Hossein Yassaie, Imagination chief executive.
"As demonstrated by very strong licensing revenue growth, our technologies, due to technical and ecosystem advantages, are in demand and are being adopted more widely across new and existing partners, creating a solid base for continued momentum in future volume growth."
In its half-yearly report the company stated the "integration of HelloSoft and Caustic Graphics [is] progressing to plan" and claimed strong licensing activities. Specifically, it reported the addition of new partners including MStar, Ricoh, Qualcomm, and Rockchip. It also boasted new and extended agreements with existing partners such as Sony, Intel, Mediatek, Renesas, Samsung, Sigma, and Realtek.
In terms of chips shipped, it said that "partner chips shipped in the period increased to 123m units" - up from 107m in 2010 - with significant volume shipments in mobile phone, tablets/personal computing, personal media players, TV/STB, digital radio and automotive markets.
For its PURE division, it described a "tough retail environment in UK offset by strong overseas growth". Reported revenues declined slightly, to £13.7m from the £13.8m of 2010.
"Whilst acknowledging the on-going challenges to the global economy, we remain confident of our continued good progress in the current financial year and beyond, given the fundamental strengthening of our business on the back of a very active and growing pipeline of licensing prospects, the growth in design wins and the momentum in our chip volume," Yassaie added.
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