Imagination Technologies Group plc (IMG.L), a multimedia, communications and processor technology company, announced that Royalty revenue growth has continued to be strong, in line with its view. The unit volume continued growing significantly, driven by new product launches from its several customers, the traditional holiday period uplift, and continuing momentum across the customer base. The average royalty rate has maintained the level achieved in the first half.
During the recent months, including at the CES (Consumer Electronics Show) and MWC (Mobile World Congress) industry events, several of the company's partners have announced important new SoCs and/or end-user products incorporating its IP.
MIPS Technologies, Inc. is expected to contribute nearly $11 million of revenue in the current fiscal year which would lead to a loss of about $1 million. For fiscal 2014, MIPS is likely to generate revenues of about $50 million - $55 million and with the reduced cost base would be accretive to Imagination's earnings.
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