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May 4, 2009

MIPS Q3 net loss narrows

Revenue down 17% on year-ago quarter

By CBR Staff Writer

MIPS Technologies, a semiconductor design IP company, has reported a net loss of $807,000, or $0.02 per basic and diluted share, for the third quarter ended March 31, 2009, compared to a net loss of $4.26m, or $0.1 per basic and diluted share, for the same period in 2008.

The company has reported total revenue of $22.71m for the third quarter of fiscal 2009, a 17% decline compared to $27.32m for the same period in 2008.

For the first nine months of fiscal 2009, total revenue was $75.32m, a 16% decline compared to $75.92m for the same period of fiscal 2008. Net loss was $2.8m, or $0.06 per diluted share, compared to $23.37m, or $0.53 per diluted share, for the same period of fiscal 2008.

John Bourgoin, president and CEO of MIPS Technologies, said: Q3 marks the third quarter in a row of positive cash flow for MIPS as we continue strengthening our financial position despite a weakening market. MIPS is well positioned with an excellent and unique product line leveraging advanced multi-threading, multi-core, and high performance single core products that are generating good profits.

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