Irish-founded semiconductor design company, Parthus Technologies, today reported a 68 per cent surge in revenues to $31.9 million for 2000.
Parthus unveiled its full-year results and said its drive to profitability would be insulated from a slowdown in the chip market as a result of concentration on future designs rather than existing products.
Revenue for the full year was $31.92 million, up from $19.04 million in 1999. Licensing revenue for the full year was $16.06 million against $5.21 million in 1999.
"There's clearly been a tightening in the marketplace, particularly driven by the PC downturn," said Parthus co-founder and chief executive Mr Brian Long during a conference call to discuss the company's full-year results.
"But it's really on current products and manufacturing... what we're doing is developing next-generation products and feeding into research and development, and when there's a tightening the last thing chip-makers tighten is their (research and development)."
Parthus' own research and development spend was $18.2 million in 2000, up from $7.1 million in 1999.
He announced Parthus' full-year results showing a loss before tax of $14.84 million, much wider than the $2.56 million recorded for 1999 but less than some analysts' estimates. UBS Warburg, which cut its rating to 'reduce' from 'hold' earlier this month, predicted a loss of $16.65 million.
AFP