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Exhibit 99.01
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Media Contact:
Jen Bernier-Santarini
MIPS Technologies, Inc.
+1 408 530-5178
jenb@mips.com
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Investor Contact:
Bill Slater
MIPS Technologies, Inc.
+1 408 530-5200
ir@mips.com
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MIPS Technologies Reports Fourth Quarter and Fiscal 2012 Financial Results
SUNNYVALE, Calif. – August 15, 2012 – MIPS Technologies, Inc. (NASDAQ: MIPS), a leading provider of industry-standard processor architectures and cores for home entertainment, networking, mobile and embedded applications, today reported consolidated financial results for its fourth fiscal quarter and fiscal year ended June 30, 2012. All financial results are reported in U.S. GAAP unless otherwise noted.
Selected Fiscal 2012 Financial Highlights:
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Revenue was $86.2 million, a year-to-year increase of five percent
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Licensee royalty units grew to 708 million units from 656 million units in FY’11
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Non-GAAP net income was $21.8 million
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Non-GAAP EPS was $0.40
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Cash and investment balances ended the year at $110.9 million
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Fourth Quarter Fiscal 2012 Financial Details:
Revenue from royalties was $10.6 million, while license revenue was $27.8 million, including the Broadcom license. The Company’s fiscal Q4’12 GAAP net income was $17.3 million or $0.31 per share compared to a net loss of $2.5 million and $0.05 per share in the third quarter of fiscal 2012.
Non-GAAP net income in the fourth quarter of fiscal 2012, which excludes certain stock and non-recurring charges, was $19.2 million or $0.35 per share, compared with a loss of $0.8 million or $0.01 per share in the third quarter of fiscal 2012. The tables below provide a reconciliation of non-GAAP measures used in this press release to the corresponding GAAP results.
“In the fourth quarter, we signed one of the largest licensing agreements in MIPS Technologies’ history. This license is the first tangible result of our strategic efforts around patent monetization, and we continue to consider all of our options in this area. In Q4 we also entered a new era of product innovation with the announcement of our new Aptiv™ Generation of microprocessors, which push performance and efficiency to new levels,” said Sandeep Vij, chief executive officer, MIPS Technologies.
MIPS Technologies invites you to listen to management’s discussion of Q4 and fiscal 2012 results in a live conference call beginning today at 1:45 p.m. Pacific:
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Live webcast: visit www.mips.com/company/investor-relations/ for a link to the listen-only webcast
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Live conference call: dial 312-470-0125; password: MIPS
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Replay call (available for 30 days shortly following the end of the conference call): dial 203-369-1251; password: MIPS
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An audio replay of the conference call will also be posted on the company’s website at www.mips.com/company/investor-relations/.
About MIPS Technologies, Inc.
MIPS Technologies, Inc. (NASDAQ: MIPS) is a leading provider of industry-standard processor architectures and cores for home entertainment, networking, mobile and embedded applications. The MIPS architecture powers some of the world’s most popular products. Our technology is broadly used in products such as digital televisions, set-top boxes, Blu-ray players, broadband customer premises equipment (CPE), WiFi access points and routers, networking infrastructure and portable/mobile communications and entertainment products. Founded in 1998, MIPS Technologies is headquartered in Sunnyvale, California, with offices worldwide. For more information, contact (408) 530-5000 or visit www.mips.com.
Forward Looking Statements
This press release contains forward-looking statements; such statements are indicated by forward-looking language such as “plans”, “anticipates”, “expects”, “will”, and other words or phrases contemplating future activities including statements about future technology and growth. These forward-looking statements include MIPS Technologies’ expectation regarding improvements in financial results. Actual events or results may differ materially from those anticipated in these forward-looking statements as a result of a number of different risks and uncertainties, including but not limited to: the ability of MIPS Technologies to realize anticipated results of its patent monetization strategy, the ability of MIPS Technologies to deliver and capitalize on the opportunities of its patent monetization strategy, the fact that there can be no assurance that our products will achieve market acceptance, changes in our research and development expenses, the anticipated benefits of our partnering relationships may be more difficult to achieve than expected, the timing of or delays in customer orders, delays in the design process, the length of MIPS Technologies’ sales cycle, MIPS’ ability to develop, introduce and market new products and product enhancements, the level of demand for semiconductors and end-user products that incorporate semiconductors and our ability to compete effectively with larger companies and other companies that are active in our markets. For a further discussion of risk factors affecting our business, we refer you to the risk factors section in the documents we file from time to time with the Securities and Exchange Commission.
MIPS, Aptiv and MIPS-Based are trademarks or registered trademark of MIPS Technologies, Inc. in the United States and other countries.
The following information was filed by Mips Technologies Inc (MIPS) on Wednesday, August 15, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: MIPS
CIK: 1059786
Form Type: 10-K Annual Report
Accession Number: 0001103969-12-000033
Submitted to the SEC: Mon Sep 10 2012 4:34:56 PM EST
Accepted by the SEC: Mon Sep 10 2012
Period: Saturday, June 30, 2012
Industry: Semiconductors And Related Devices
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