SUNNYVALE, Calif. – October 27, 2011 – MIPS Technologies, Inc. (NASDAQ: MIPS), a leading provider of industry-standard processor architectures and cores for digital home, networking and mobile applications, today reported consolidated financial results for its first fiscal quarter of 2012 ended September 30, 2011. All financial results are reported in U.S. GAAP unless otherwise noted.
Summary First Quarter Fiscal 2012 Financial Metrics:
- Revenue was $17.2 million, a quarter-to-quarter decrease of 2 percent
- Licensee royalty units grew to 173 million units from 165 million units in Q4’11
- Non-GAAP net income was $2.6 million or $0.05 per share; up $0.01 per share from Q4’11
- Cash and investment balances ended the quarter at $106.7 million
Fiscal first quarter revenue from royalties was $13.0 million, while license revenue was $4.2 million. The Company’s fiscal Q1 GAAP net income was $0.5 million or $0.01 per share compared to $0.7 million and $0.01 per share in the fourth quarter of fiscal 2011.
Non-GAAP net income in the first quarter of fiscal 2012, which excludes certain stock and non-recurring charges, was $2.6 million or $0.05 per share, compared with $2.3 million or $0.04 per share in the fourth quarter of fiscal 2011. The tables below provide a reconciliation of non-GAAP measures used in this press release to the corresponding GAAP results.
“In the first quarter, we achieved our forecast financial goals and continued to strengthen our solution offerings. While our financial performance in the first quarter continues to mirror the overall consumer electronics and network infrastructure economic environment, we are confident in MIPS’ long-term market opportunity,” said Sandeep Vij, chief executive officer, MIPS Technologies.
MIPS Technologies invites you to listen to management’s discussion of first quarter 2012 results, as well as guidance for the second quarter of fiscal 2012, in a live conference call beginning today at 1:45 p.m. Pacific:
- Live webcast (listen-only): visit https://e-meetings.verizonbusiness.com; conference number 8392257; passcode: MIPS
- Live conference call: dial 312-470-0125; password: MIPS
- Replay call (available for 30 days shortly following the end of the conference call):
- dial 203-369-3375; password: MIPS
An audio replay of the conference call will also be posted on the company’s website at www.mips.com/company/investor-relations/.
About MIPS Technologies, Inc.
MIPS Technologies, Inc. (NASDAQ: MIPS) is a leading provider of industry-standard processor architectures and cores for digital home, networking and mobile applications. The MIPS architecture powers some of the world’s most popular products, including broadband devices from Linksys, DTVs and digital consumer devices from Sony, DVD recordable devices from Pioneer, digital set-top boxes from Motorola, network routers from Cisco, 32-bit microcontrollers from Microchip Technology and laser printers from Hewlett-Packard. Founded in 1998, MIPS Technologies is headquartered in Sunnyvale, California, with offices worldwide. For more information, contact (408) 530-5000 or visit www.mips.com.