Arm third quarter profit rises 17 percent
Chip designer Arm posted a 17 percent rise in underlying profit of 24.9 million pounds on Tuesday, and said revenue in the final quarter will meet or exceed expectations.
Schroders 35% profit rise in 2007The company, which counts most of the world's semiconductor companies as customers, reported revenue of $134.4 million (86 million pounds), up 7 percent, for the quarter. It benefited from the strengthening of the dollar, with revenue in sterling up 14 percent at 71.7 million pounds.
Cambridge-based Arm said the licence pipeline opportunity remained robust as it entered the final quarter.
"Although the global economic macroeconomic conditions make the near-term trading environment uncertain, based on the order backlog, robust licensing pipeline and underlying momentum in royalties, we expect that group dollar revenues in Q4 2008 will be at least in line with expectations," it said in a statement.
The market was expecting the company to post revenue of 67.8 million pounds and pretax profit of 22.8 million pounds, according to a company-supplied consensus of 15 analysts.
(Reporting by Paul Sandle)
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