Parthus has revealed widened full-year losses following what it described as “the worst semiconductor downturn on record.” Its net loss increased to £24.5 million from £11.35 million. Licensing and royalty revenue grew 70% year-on-year to £6.15 million.
Parthus Technologies has announced its financial results for the fourth quarter and for the full year ended December 31, 2001. Licensing & royalty revenue for the year grew 87% compared with 2000 and positive quarterly trends in licensing growth, improving gross margin and declining pro forma net loss continued despite the worst semiconductor industry downturn on record
Commenting on the results, Brian Long, Chief Executive Officer, said:
I am pleased by Parthus’ robust performance in 2001, particularly against the backdrop of the worst semiconductor downturn on record. We successfully grew our key licensing and royalties revenue line by 87% this year and formed engagements with six of the worlds top ten semiconductor companies. Unquestionably near term market conditions in the semiconductor industry remain challenging. Notwithstanding, we have a strong sales pipeline illustrating the continued demand for our technology. We look forward to sustaining Parthus’ growth and development and returning to profitability in the second half of 2002.