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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Arm Holdings, Plc ADS (MM) | NASDAQ:ARMHY | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 5.22 | 0 | 01:00:00 |
ARM HOLDINGS PLC REPORTS RESULTS FOR THE FOURTH QUARTER AND FULL YEAR 2009 CAMBRIDGE, UK, 2 February 2010-ARM Holdings plc announces its unaudited financial results for the fourth quarter and full year ended 31 December 2009, reflecting resilient trading performance and further progress in delivering ARM's strategy. Q4 Financial Summary Normalised* IFRS Q4 2009 Q4 2008 % Change Q4 2009 Q4 2008 Revenue ($m) 140.0 149.4 -6% 140.0 149.4 Revenue (GBPm) 85.2 94.4 -10% 85.2 94.4 Operating margin 37.3% 34.6% 23.0% 23.8% Profit before tax (GBPm) 32.3 33.4 -3% 20.1 23.2 Earnings per share (pence) 1.79 1.94 -8% 1.32 1.35 Net cash generation (GBPm)** 30.7 28.3 Effective revenue fx rate($/GBP) 1.64 1.58 FY Financial Summary Normalised* IFRS FY 2009 FY 2008 % Change FY 2009 FY 2008 Revenue ($m) 489.5 546.2 -10% 489.5 546.2 Revenue(GBPm) 305.0 298.9 +2% 305.0 298.9 Operating margin 31.2% 32.7% 15.0% 20.1% Profit before tax (GBPm) 96.8 101.0 -4% 47.3 63.2 Earnings per share (pence) 5.45 5.66 -4% 3.11 3.39 Net cash generation (GBPm)** 86.1 93.1 Full year dividend (pence) 2.42 2.20 +10% Effective revenue fx rate($/GBP) 1.60 1.83 Progress against strategy in Q4 * Growth in mobile applications o ARM opportunity increases as smartphone growth continues and first ARMĀ® technology-based mobile computers introduced o 6 processor licenses signed for mobile phone and computing applications o ARM achieves an average of 2.4 chips per phone as capability of mobile phones increases * Growth beyond mobile o ARM increases share in target markets such as consumer electronics and embedded products o Strong sequential growth with microcontrollers up 60% and smartcards up 100% o 19 processor licenses signed for a broad range of applications including automotive, microcontrollers, printers and smartcards * Growth in new technology outsourcing o Leading semiconductor companies continue to license ARM's physical IP and multimedia IP including: * GLOBALFOUNDRIES licensed ARM's advanced 28nm physical IP * Samsung licensed ARM's Mali graphics processor for use in next generation consumer products Warren East, Chief Executive Officer, said:"We are pleased that in Q4 ARM has continued to outperform the semiconductor industry as we gain market share. Throughout 2009 we demonstrated the resilience of the ARM business model in a challenging trading environment. Despite industry dollar revenues being down about 20% in the relevant period, ARM market share gains resulted in dollar revenues being down 10% with on-going financial discipline maintaining normalised operating margins over 30% and delivering strong cash generation. The company is well-placed for this strong performance to continue as leading semiconductor manufacturers are increasingly designing ARM technology into their products, and as ARM technology becomes ever more pervasive in markets with long-term structural growth such as smartphones, digital TVs and microcontrollers. Recently, Infineon and STMicroelectronics have announced the intention to use, for the first time, ARM processors in their smartcard and digital TV/set-top-box product lines respectively." Outlook It is generally anticipated that the semiconductor industry will see improving conditions in 2010 compared to 2009. The rate of improvement is still unclear as it will be influenced by consumer confidence and the broader macro-economic environment. Reflecting these generally anticipated improvements in the semiconductor industry, and given ARM's strong industry position coming into 2010, we expect group dollar revenues for the full-year to be at least in line with current market expectations. Q4 2009 - Revenue Revenue ($m)*** Revenue (GBPm) Analysis Q4 Q4 % Q4 Q4 % 2009 2008 Change 2009 2008 Change PD Licensing 35.7 43.0 -17% 21.5 26.5 -19% Royalties 63.5 65.5 -3% 38.4 42.5 -10% Total PD 99.2 108.5 -9% 59.9 69.0 -13% PIPD Licensing 9.2 9.8 -7% 5.8 6.3 -8% Royalties1 11.1 10.5 6% 6.7 6.8 -1% Total PIPD 20.3 20.3 12.5 13.1 -4% Development Systems 12.7 12.9 -1% 7.9 8.1 -2% Services 7.8 7.7 1% 4.9 4.2 15% Total Revenue 140.0 149.4 -6% 85.2 94.4 -10% 1 Includes catch-up royalties in Q4 2009 of $0.8m (GBP0.5m) and in Q4 2008 of $1.0m (GBP0.6m). FY 2009 - Revenue Revenue ($m)*** Revenue (GBPm) Analysis FY FY % FY FY % 2009 2008 Change 2009 2008 Change PD Licensing 128.2 145.1 -12% 76.5 79.3 -4% Royalties 208.1 226.5 -8% 132.5 125.5 6% Total PD 336.3 371.6 -10% 209.0 204.8 2% PIPD Licensing 35.9 44.6 -20% 22.0 24.2 -9% Royalties1 36.2 40.3 -10% 22.9 22.2 3% Total PIPD 72.1 84.9 -15% 44.9 46.4 -3% Development Systems 51.6 57.8 -11% 32.9 31.1 6% Services 29.5 31.9 -8% 18.2 16.6 10% Total Revenue 489.5 546.2 -10% 305.0 298.9 2% 1 Includes catch-up royalties in FY 2009 of $5.0m (GBP2.6m) and in FY 2008 of $4.6m (GBP2.5m). * Normalised figures are based on IFRS, adjusted for acquisition-related, share-based payment costs and restructuring charges and profit on disposal and impairment of available-for-sale investments. For reconciliations of IFRS measures to normalised non-IFRS measures detailed in this document, see notes 5.1 to 5.18. ** Before dividends and share buybacks, net cash flows from share option exercises, disposals of available-for-sale investments, investment and acquisition consideration and other items excluded from normalised profits - see notes 5.9 to 5.13. *** Dollar revenues are based on the group's actual dollar invoicing, where applicable, and using the rate of exchange applicable on the date of the transaction for invoicing in currencies other than dollars. Approximately 95% of invoicing is in dollars. **** Each American Depositary Share (ADS) represents three shares. A presentation of these results will be webcast today at 9:30 GMT at www.arm.com/ir CONTACTS: Nick Claydon/Daniel Thole Tim Score/Ian Thornton Brunswick ARM Holdings plc +44 (0)207 404 5959 +44 (0)1223 400400 Click on, or paste the following link into your web browser, to view the associated PDF document. http://www.rns-pdf.londonstockexchange.com/rns/5007G_1-2010-2-1.pdf This information is provided by RNS The company news service from the London Stock Exchange END
Contacts: RNS Customer Services 0044-207797-4400 Email Contact http://www.rns.com
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