MIPS Technologies Announces Preliminary First Quarter Revenue Results
October 04 2005 - 4:30PM
PR Newswire (US)
MOUNTAIN VIEW, Calif., Oct. 4 /PRNewswire-FirstCall/ -- MIPS
Technologies, Inc. (NASDAQ:MIPS), today announced preliminary
revenue results for the first quarter of fiscal year 2006. For the
quarter ending September 30, 2005, the company expects to report
revenue of $11.8 million to $12.0 million compared to $14.3 million
in the prior quarter. "Although royalty revenues were better than
expected, it was not enough to offset a disappointing contract
revenue shortfall," noted John Bourgoin, president and CEO of MIPS
Technologies. "A number of our customers delayed their investment
decisions, especially for deal values in excess of $1,000,000. This
slowdown has reduced the number and the corresponding dollar value
of agreements completed in the quarter." The company will provide
more details during the first quarter earnings call. All statements
relating to the company's first quarter financial performance
contained in this release are preliminary and may change based on
the company's management and independent auditors completion of
customary quarterly closing and review procedures. MIPS
Technologies will report results for the first quarter of fiscal
2006 on October 20, 2005 after the close of the market. The company
invites you to listen to management's discussion of Q1 results and
Q2 guidance in a live conference call on October 20, 2005 beginning
at 1:45 p.m. Pacific. Conference call number is 1-719-457-2650.
Replay number is 1-719-457-0820 and will be available for five
business days, beginning shortly after the end of the conference
call. The access code is 1764953. MIPS Technologies, Inc. MIPS
Technologies, Inc. is a leading provider of industry standard
processor architectures and cores for digital consumer and business
applications. The company drives the broadest architectural
alliance that is delivering 32- and 64-bit embedded RISC solutions.
The company licenses its intellectual property to semiconductor
companies, ASIC developers, and system OEMs. MIPS Technologies,
Inc. and its licensees offer the widest range of robust, scalable
processors in standard, custom, semi-custom and application-
specific products. MIPS Technologies, Inc. is based in Mountain
View, California, and can be reached at 650-567-5000 or
http://www.mips.com/. This press release contains forward-looking
statements, including those regarding MIPS Technologies' revenue
expectations. Actual events or results may differ materially from
those anticipated in these forward looking statements as a result
of a number of different risk and uncertainties, including but not
limited to: our products may fail to 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 Technologies' ability to develop, introduce and
market new products and product enhancements, and the level of
demand for semiconductors and end-user products that incorporate
semiconductors. For a further discussion of risk factor affecting
our business, we refer you to the documents we file from time to
time with the Securities and Exchange Commission, including our
Annual Report on Form 10-K for the year ended June 30, 2005 and
subsequent Forms 10-Q and 8- K. DATASOURCE: MIPS Technologies, Inc.
CONTACT: Investors: Bonnie Gardiner, Investor Relations,
+1-650-567-7007 or , or Media: Kathleen Matthews, Corporate
Communications, +1-650-567-5035 or , both of MIPS Technologies,
Inc. Web site: http://www.mips.com/
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