Chipmaker ARM Holdings Plc (ARMH, ARM.L) posted higher first-quarter IFRS pre-tax profit of 67.1 million pounds, compared with last year's 51.3 million pounds. After adjusting for acquisition-related and share-based payment costs, disposal and impairment of available-for-sale financial assets, intangible amortisation and share of results of joint ventures, quarterly normalised pre-tax profit was 89.4 million pounds, up from 61.9 million pounds a year ago.
Three-month earnings per share were 3.69 pence, an increase compared with the prior year's 2.71 pence. On American Depository Share or ADS basis, earnings improved to 16.8 cents from 13 cents last year. Normalised earnings for the latest period amounted to 5.31 pence or 24.2 cents per ADS.
The firm clocked first-quarter revenue of 170.3 million pounds, up 28% from the prior-year figure of 132.5 million pounds. In US dollar terms, quarterly revenue advanced 26% year-on-year to $263.9 million.
Looking ahead, group revenues for the full-year 2013 are expected to be at least in line with current market view.
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