ARM Holdings Plc. (ARMH,ARM.L) reported that IFRS profit before tax for the second quarter ended 30 June 2014 significantly increased to 68.0 million pounds from 15.0 million pounds in the same quarter last year.
Profit for the quarter grew to 55.5 million pounds from the prior year's 10.5 million pounds, with earnings per share improving to 3.91 pence from 0.75 pence in the previous year.
Quarterly normalised earnings per share were 5.43 pence compared to 4.89 pence last year.
Normalised profit before tax was 94.2 million pounds compared to 86.6 million pounds in the year ago quarter.
Revenues for the quarter rose to 187.1 million pounds from 171.2 million pounds in the previous year. Total dollar revenues in the latest-quarter were $309.6 million, up 17% from the prior year.
ARM noted that it enters the second half of the year with a healthy pipeline of opportunities that is expected to both underpin continued strong licence revenue and give rise to an increase in the level of backlog. Market data indicates improving semiconductor industry conditions, leading to the expectation of an acceleration in royalty revenue growth in the second-half of 2014. Given these dynamics, the company expects Group dollar revenues for full year 2014 to be in line with market expectations.
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