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Technology Stocks : ARM Holdings (Advanced RISC Machines) plc.

ARMH 75.15

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3:50 PM EDT

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From: John Hayman	10/18/2005 8:01:30 AM
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Down she goes! John UPDATE: Chip Designer ARM Tumbles On Sales Outlook By Aude Lagorce LONDON (Dow Jones) -- U.K. microchip design maker ARM Holdings PLC on Tuesday fell as much as 9% after it warned that recently acquired Artisan Components' disappointing performance will result in 2005 sales growth at the low end of forecasts. ARM (ARMHY) said third quarter net income at the group inched higher to 9.78 million pounds ($17 million) from 9.53 million pounds in the year-earlier quarter. Sales climbed 44% to 56.7 million pounds. ARM sees revenue growth at the low end of forecasts following lower-than-expected revenue from Artisan. Licensing revenue from Artisan fell 2.6% to $15.2 million in the quarter compared with licensing revenue growth at the original ARM business of 21% to $30.9 million. "Both licensing and royalties missed our numbers for the ARM and PIPD businesses," Merrill Lynch analysts told clients. That will result in sales growth in dollar terms at 15% for the year, compared with a July forecast for growth of between 15% and 20%. The Artisan unit sells royalty-generating designs to customers including IBM Corp. (IBM). Mobile-phone maker Nokia Corp. (NOK) and chipmaker Texas Instruments, Inc. (TXN) also use ARM products. ARM bought Artisan in August 2004 for $913 million. ARM Chief Executive Warren East said in a statement that the group has seen strong licensing activity for its latest ARM11 and Cortex microprocessors. In addition, East noted that the physical IP division is starting to deliver, "with technology synergies between ARM and Artisan now translating into products and a further three synergistic license deals being signed during the quarter." (END) Dow Jones Newswires October 18, 2005 06:06 ET (10:06 GMT)

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