Imagination Technologies Share Discussion Threads

[primitive] 07/12/2016 20:29

Thought they might give it a miss with cutbacks etc. Hopefully have some fruitful meetings.

Also,I see Nick James (Numis) is back with a BUY rating (310p) after a long time.

[taffy100] 07/12/2016 17:25

Imagination Technologies VL-62899
Creator Ci40 loT Kit

[sweenoid] 07/12/2016 14:59

If I were an ARM employee I woukd be seriously wondering m perhaps even worrying
As far as I was concerned this guys promises for ARM's future were ie in the sky, now he wants to take over the world , mmmmmm heard that before, big idea's , big dreams in the real world usually come with a price ?

[pottsey] 07/12/2016 13:40

A successful product is not one that's licensed a lot its one that wins key licenses and gets high volume. These days its all about which licences you win not how many you win. 1 or 2 key wins can gain market share while overall licencing is low.

[nearlythere] 07/12/2016 11:28

As stated before it is good to get the information on each section, at least now the figures are being presented as they always should have been.

There are some comments that seem to be contradictory to me,

In one part they say that GPu licensing have been slow and then they say that series 8 has been the most successful product launch. A successful product IMO is one that is licensed alot.

They also say there are GPu design wins and they are expecting to gain market share in the mid tier phones. If that is the case were is the license income?.

Assuming the usual 12 24 months from licensing to soc release, if img GPu ( series 7 or 8 ) are to be in socs late 2017 early 2018, with some targeted mid tier android phones, then I would have expected licensing to be improving now.

Unless they have changed the model and have reduced the license fee to get slots and numbers

Maybe I am mistaken.

[sweenoid] 07/12/2016 07:58

The transcript is great

Whenever the next bozo posts how Apple will be designing their own SOC from the bottom up we can now quote our CEO....who knows they can't and won't ;-)

I thought they were conservative in expectations for smartphone royalties given the success of the latest mid-range aimed IP

We shall see but I think we are a definate player again
S

[amt] 07/12/2016 07:39

Wondering whether to invest again. What does Rob Evans think. He called it right in the past few years.

[amt] 07/12/2016 07:27

It seems to me that the company is getting to grips with executing on some great technologies. Insigma Ray Tracing and Mips all look promising. These are all products that were the vision of Husein. Do they have a visionary person in the company to see ten years ahead as Husein did and it looks like his vision may be proved right after all. In the past they lacked discipline to focus and keep financial constraints in place. Its begining to look as if his vision may well have been correct but he needed managing in the context of a quoted company. Great pity. Uk needs inovation more than ever.

[roninja] 07/12/2016 07:19

Your can hear it and can now read it...

Imagination Technology Group PLC (IGNMF) CEO Andrew Heath on Q2 2017 Results - Earnings Call Transcript $IGNMF

[primitive] 06/12/2016 18:59

hTtps://www.theguardian.com/business/marketforceslive/2016/dec/06/apple-supplier-imagination-technologies-jumps-after-restructuring

[sweenoid] 06/12/2016 16:57

very happy with the CC

professional, believable and attainable

:-)
I am feeling so much more positive after today, rest of my holding goes under the mattress

S

[twatcher] 06/12/2016 15:44

Interesting piece from the Telegraph

Mr Hill’s appointment marks a reunion with Imagination’s chief executive Andrew Heath, with the two acquainted from their days at Alent, the chemicals giant.

Mr Hill was chairman and Mr Heath chief executive at when Alent was sold to US group Platform Specialty for £1.35bn last year.

Asked whether Tuesday’s appointment of Mr Hill could lead to a sale, Mr Heath said: “I’m sure people will speculate but we looked to Peter as the best candidate.”

[nearlythere] 06/12/2016 14:27

Just listened to the audio in full.

I have to say I am impressed, no fluff.. All about img 2017 2018 markets and a good level of detail on many subjects. They do seem to have a coherent plan imo. Wether it works we will know soon enough as there is a lot talk about series 8 design wins coming in 2017 mid high so not long to wait.

The Q and A is there and again i was impressed by both the questions and answers.

[jamesrowe] 06/12/2016 14:00

How did net debt go up £7M in 6 months. Is that the dollar impact on dollar-denominated debts?

[roninja] 06/12/2016 13:59

Audio is up. Seems long enough to include Q&A - will listen later.

[twatcher] 06/12/2016 13:58

Increasing chatter about the mobileye-Intel arrangement. Lets hope it doesn't result in Mobileye gonig a different way and potentially reworking eyeQ5 that was announced early.

[adventurous] 06/12/2016 11:15

Exchange rates had an overall negative effect of (£607,000).

Discontinued ops absorbed GBP10.5m of the group's net operating cash flows so I guess the finance charge of £5.5m can be laid at that door.

On a forward basis the EBIT of £12.1m for H1 is pretty good considering what it would have been if HY had stayed in charge!!

Adjusted earnings on a H1 forward basis (excl. discontinued) is 4.2p so maybe 10p for full year is possible!

[sweenoid] 06/12/2016 11:02

Nice short well presented summary

Future prospects would be revolutionised with a console RT license ,think of Sega days

I think this mornings results put us in a better 'shop-front' position for acquisitors,sold some at the high of the day ( I ain't daft) but remain and will remain decidedly overweight

S

[nearlythere] 06/12/2016 10:53

No great suprise.

As expected the report continues to show a decline in GPu licenses and royalites. While mips and comms remaining loss making, the gpu picture is truly abysmal, with the same old excuses,late delayed. So after a year the management have cut costs and not improved the selling of the ip at all.
Still looking like a profit warning in march IMO.

[twatcher] 06/12/2016 10:22

Primitive,
"Note revenue from Apple was £31.36M vs. £29.41M in comparable period , so allowing for dollar rates, I'm guessing no big change there."

xe.com tells me that dollar @ 31st oct 2015 was 1.54. So for simplicity lets assume thats the rate for all of H1 2015, which means H1 2015 was $45.3M.
Rate for 31st Oct 2016 was 1.22, which gives $38.25M

It's a drop of $7M or 15% in revenue from Apple, masked solely by the good dollar rate. In othe words, if brexit had not happened it's likely IMG would have been unable to report a 6 month profit.

And there was me hoping brexit didn't happen :)

[twatcher] 06/12/2016 10:04

Licensing is a real concern. MIPS, a business that has been around for what 20+ years, licensed less than Ensigma, which has been regularly mentioned as only really starting to go now. That doesn't look great.

PowerVr licensing isn't great to say the least. 8Xe is supposed to bring the fight to the low-cost Mali solutions, but where are the licencees for it.

Ensigma does look like it's taking off, and about time. We've had an ensigma segment for a long time now.

As we have been told for an eternity, licensing today is royalty in 18m-24 months time. So if share price movement is supposed to reflect future possibilities....

I'm not sure the outgoing chairman did anything, the guy before him didn't do much for years and years, so going on past performance, one expects the new chairman to have little actual effect, other than take a salary.

It is good to be able to see what each branch of the business is doing, and to have costs fully segmented to each branch too.

[primitive] 06/12/2016 09:55

Presentation is up:



MIPS aiming for profit in FY18
Ensigma aiming for profit in FY20

Note revenue from Apple was £31.36M vs. £29.41M in comparable period , so allowing for dollar rates, I'm guessing no big change there.

[hammerd2] 06/12/2016 08:54

Well I offloaded the majority of my holding to sub 25k again this morning at just over 264 so I'll take my leave once more until my holding becomes significant again.

Beware the Ides of March :-)

[colsmith] 06/12/2016 08:30

Growth in ENSIGMA interesting and maybe shows the market need snd IMG solution (ENSIGMA) for the large number of comms interaces both new and updates neding to be handled. If we're lucky this coul be a big cash generator. Software defined (mainly) as a means to cater fo the differennt interafeces makes for an end user to keep their product up to the latest standard relativley easily.