ARM Holdings PLC flexed its muscles Wednesday when the chip design company said profits for the third quarter doubled from figures posted a year ago.
For the period ending Sep. 30, U.K.-based ARM posted a pre-tax profit of 8.8 million pounds (US$12.88 million), a 100 percent gain year-over-year, the company said in a statement.
Revenue for the third quarter totalled 26.4 million pounds -- a 68 percent increase over the same period last year.
ARM doesn't manufacture chips itself; rather, it provides processor, peripheral and system chip designs to semiconductor makers as well as makers of wireless and Internet appliances.
"Unit shipments by our partners exceeded 100 million units for the quarter, three times more than the amount shipped in the corresponding period last year, and the range of end markets for our technology continues to broaden," Robin Saxby, chairman and chief executive officer at ARM, said in the statement.
ARM also announced several reorganization moves designed to help maintain company growth. Jamie Urquhart, former chief operating officer, was appointed to the chief strategy officer position. In addition, Warren East, the former vice president of business operations, will now take on the role of chief operating officer.
ARM made a pair of announcements Wednesday at Microprocessor Forum 2000 in San Jose, California, relating to architecture extensions it hopes will drive the improvement of applications on wireless devices and other Internet appliances. [See "ARM Lends a Java Hand to Wireless Devices," Oct 11.]Shares of ARM rose almost 5 percent during Wednesday's trading. The company's stock closed up $1.38 per share to end at $30.68.
ARM, in Cambridge, U.K., can be reached +44-1223-400400, or via the Web at http://www.arm.com/.