Electronics IP Industry – Q2 2012

Gideon Wertheizer, Chief Executive Officer, stated: "The second quarter was the strongest licensing quarter in more than three and a half years, driven by a strategic licensing agreement with a tier 1 handset OEM for a range of LTE handsets and the first agreement for our newest DSP, the CEVA-XC4000 for LTE- Advanced. These latest agreements bring the total LTE design wins for CEVA DSPs to date to more than 20, and form the foundation for future royalty growth.”

CEO Wertheizer

“Finally, while the competitive 2G market is experiencing pricing pressure, our volume growth in the lucrative 3G market during the quarter significantly outpaced that of the overall 3G space, as low and mid-range 3G smart phones gain traction."

US GAAP net income for the second quarter of 2012 was $3.48 million, a decrease of 15.33% from $4.12 million reported for the same period in 2011, and a decrease of 28.40% from the $4.86 million net income in sequential Q1 2012.

US GAAP diluted earnings per share for the second quarter of 2012 were $0.15, a decrease of 11.76% compared to $0.17 for the second quarter of 2011 and a decrease of 15.0% from the $0.20 in Q1 2012.

During the second quarter of 2012, the Company secured eight new license agreements. Six of the agreements were for CEVA DSP cores, platforms and software, and two agreements were for the CEVA Bluetooth product line. Target applications for customer deployment are LTE smart phones, microcells, broadband communications and connectivity. Geographically, three of the agreements signed were in the US and five were in the Asia Pacific region.


Yaniv Arieli

Yaniv Arieli,
Chief Financial Officer, stated, "During the quarter, we bought back approximately 670,000 shares of our common stock for an aggregate consideration of approximately $11.3 million. The recent buyback activity continues to demonstrate our confidence in CEVA's strong fundamentals. At the end of the quarter, our cash balance, marketable securities and bank deposits totaled $156 million. We have approximately 900,000 shares available for repurchase remaining under our existing buyback program."

CEVA, Inc. self description

CEVA is the world's leading licensor of silicon intellectual property (SIP) DSP cores and platform solutions for the mobile handset, portable and consumer electronics markets. CEVA's IP portfolio includes comprehensive technologies for cellular baseband (2G / 3G / 4G), multimedia (HD video, Image Signal Processing (ISP) and HD audio), voice over packet (VoP), Bluetooth, Serial Attached SCSI (SAS) and Serial ATA (SATA). In 2011, CEVA's IP was shipped in over 1 billion devices and powers handsets from every top handset OEM, including HTC, Huawei, LG, Motorola, Nokia, Samsung, Sony and ZTE. Today, more than 40% of handsets shipped worldwide are powered by a CEVA DSP core. For more information, visit www.ceva-dsp.com

CEVA. Inc.

Bar Graph Source: Google Finance



Q2 2012 REV            $13.59 million

Q2 2012 NET INC     $  3.48 million  

Q2 2012 EPS               $ 0.15


08/10/12 CLOSING STOCK PRICE: $16.43

   08/10/12 MKT CAP  $ 379.75 million

08/10/12  STOCK PRICE RANGE: $16.21 – $16.59

      52 WEEK RANGE: $14.25 – $34.50

On August 6, 2012 MIPS Technologies , Inc. (NASDAQ: MIPS) announced preliminary revenue for its fourth fiscal quarter and fiscal year ended June 30, 2012 . MIPS fourth fiscal quarter is calendar Q2 for this EDA IP Commentary. The Company also rescheduled its earnings conference call (to August 15, 2012) while it finalized certain expense accruals.

Revenue for the entire MIPs fiscal year 2012 was $86.2 million, a year-to-year increase of five percent.

Revenue for the second calendar quarter was $38.4 million, with revenue from royalties of $10.6 million, and revenue from licensing of $27.8 million, including the recent Broadcom license.

On August 15, 2012 MIPS Technologies, Inc. (NASDAQ: MIPS), reported the remainder of its consolidated financial results for its fourth fiscal quarter and fiscal year ended June 30, 2012. All financial results are reported in US GAAP unless otherwise noted. 

Selected Fiscal 2012 Financial Highlights

  • Revenue was $86.2 million, a year-to-year increase of five percent
  • Licensee royalty units grew to 708 million units from 656 million units in FY'11
  • Cash and investment balances ended the year at $110.9 million 

Calendar Q2 2012 Financial Details

MIPS Revenue for Q2 2012 was already reported at $38.4 million. (To be exact it was $38.379 million, 250.29% of the Q1 2012 sequential quarter revenue of $15.33 million, and 218.10% of Q2 2011 year over year revenue of $17.597 million).

The Company's Q2 2012 GAAP net income was $17.247 million or $0.31 per share compared to a net loss of $2.533 million and NEGATIVE $0.05 per share in year over year Q2 2011.


Sandeep Vij

"In the fourth (fiscal) quarter, we signed one of the largest licensing agreements in MIPS Technologies' history. This license is the first tangible result of our strategic efforts around patent monetization, and we continue to consider all of our options in this area. In (fiscal) Q4 we also entered a new era of product innovation with the announcement of our new AptivTM Generation of microprocessors, which push performance and efficiency to new levels,"
said Sandeep Vij, chief executive officer, MIPS Technologies. . 

About MIPS Technologies, Inc.

MIPS Technologies, Inc. (NASDAQ: MIPS) is a leading provider of industry-standard processor architectures and cores for home entertainment, networking, mobile and embedded applications. The MIPS architecture powers some of the world's most popular products. Our technology is broadly used in products such as digital televisions, set-top boxes, Blu-ray players, broadband customer premises equipment (CPE), WiFi access points and routers, networking infrastructure and portable/mobile communications and entertainment products. 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 

MIPS and MIPS-Based are trademarks or registered trademark of MIPS Technologies, Inc. in the United States and other countries.



MIPS stock suffered a setback on Thursday August 16, as shown by the step off below. Thursday’s was the first market session since the earnings announcement was made by MIPS after the market closed on Wednesday August 15.  The stock closed Thursday at $6.09 per share, but began to recover somewhat on Friday August 17. 



MIPS Technologies, Inc.

Bar Graph Source: Google Finance




Q2 2012 REV              $38.38 million

Q2 2012 NET INC         $17.24 million

Q2 2012 EPS               $ 0.31

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