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MIPS Q2 revenue misses Street on lower licensing fee
4:53pm EST
tinyurl.com
* Q2 adj EPS $0.14 VS est $0.13
* Q2 rev $ 21.9 mln vs est $22.3 mln
* Shares down 11 pct, after-market
Jan 25 (Reuters) - Chip designer MIPS Technologies (MIPS.O: Quote, Profile, Research, Stock Buzz) posted second-quarter revenue that missed estimates as licensing revenue fell from the prior quarter, sending its shares down 11 percent in extended trade.
MIPS posted second-quarter revenue of $21.9 million, while analysts were looking for $22.3 million, according to Thomson Reuters I/B/E/S.
The company posted $7 million in license revenue, down from $9 million in the first quarter.
Sunnyvale, California-based MIPS designs microchip architecture, which it licenses to semiconductor makers on long-term contract or royalty.
For October-December, MIPS earned $6 million, or 11 cents a share.
Excluding items, it earned 14 cents a share, while analysts were expecting 13 cents.
Shares of the company, which have gained over 40 percent since MIPS reported strong first-quarter results in October, were down 9 percent at $13.85 in trading after the bell.
They closed at $15.13 on Tuesday on Nasdaq. (Reporting by Himank Sharma in Bangalore; Editing by Vyas Mohan) |
