picoTurbo Announces Strong Second Quarter Results
MILPITAS, CA - August 15, 2000 - picoTurbo, Inc. a premier developer of 16/32 bit embedded RISC microprocessor cores for wireless Internet devices, today announced strong second quarter results of 4X revenue compared to that of the previous quarter. The company also announced that it has accomplished a series of significant milestones; opening of the new picoTurbo Design Center located in Taiwan, expansion of management team, joint relationships with both UMC and TSMC and expansion of sales presence in Taiwan by signing a strategic relationship with Premier Microelectronics as a reseller of the picoTurbo product line.
"This was a breakthrough quarter for picoTurbo. Our second quarter revenue growth was driven by increased participation of key corporate accounts that licensed the picoTurbo pT-100 and pT-110 RISC microprocessor cores," said Chip Stearns, Chief Executive Officer of picoTurbo, Inc. "One of the highlights of our second quarter was the announcement of our expansion strategy in the Pacific Rim market space with the opening of our new Design Center and establishing a sales relationship with Premier Microelectronics - one of the largest distributors of semiconductors"
It appears that picoTurbo's second quarter results and milestone achievements were not effected by the continuous litigation process of ARM® Ltd. Earlier this year, ARM® Ltd. filed a suit against picoTurbo for patent infringement and unfair competition. picoTurbo is confident that the judicial system will ultimately agree that their actions were completely lawful and that the technology resulted in a more rapid innovation and presented an optional choice for consumers. picoTurbo's executive team and experienced legal council will vigorously defend itself against claims of patent infringement and unfair competition. This is more of a business issue rather than a legal issue and it will be resolved in U.S. District Court. Both our customers and partners have expressed their confidence by purchasing and developing with the picoTurbo microprocessor cores. Our second quarter results are the strongest endorsement that we could ask for at this time.
About picoTurbo, Inc.
picoTurbo, Inc. is a premier provider of 16/32-bit RISC microprocessor cores that are able to execute ARM® (version 4T) instructions. Their flexible business model delivers high performance, cost-effective, low-power porting solutions of Intellectual Property, specializing in advanced wireless Internet devices. picoTurbo's consulting, training, and support services assist companies in launching reliable technology initiates quickly. picoTurbo is headquartered in Milpitas, California with a Design Center located in Taiwan.
For More Information, Contacts:
Bruno Kajiyama / VP of Marketing
# # #
picoTurbo, pT-100, and pT-110 are trademarks of picoTurbo, Inc.
All other trademarks are the property of their respective companies.
The trademarks of ARM is a registered or common law trademark of ARM Holdings, Ltd., and is used herein solely for identification and comparison purposes.