LONDON — Graphics IP core licensor Imagination Technologies Group plc (Kings Langley, England) made a net profit of £8.24 million (about $13.6 million) on revenue of £64.09 million (about $105.7 million) for the year to April 30, 2009.
The profit was about four times larger than that of the previous year and revenue was up 7 percent compared with the £60.02 million (about $98.9 million) revenue achieved in the 13 months to April 30, 2008, the company said.
Imagination has endured many years of losses but the company has started to achieve sustainable profitability in 2008 and 2009 on the growing significance of graphics in consumer products and the inclusion of its technology in the Apple iPhone.
The progress made by Imagination in the latest financial year was mainly on the technology side, as the other half of Imagination's business — its digital radio business under the Pure brand — was impacted by the global decline in consumer spending.
Imagination said it had achieved 12 major agreements and signed more than 25 silicon IP core licenses in the year, including deals with Apple, Intel, Samsung, NXP and MediaTek. There is also an "active pipeline" of prospects, the company said.
One key indicator is that the number of chips shipped by licensors that included Imagination's technology jumped by 83 percent to 86 million units in the 2008-2009 financial year, up from 47 million units the year before. Licensing revenue was up 21 percent and royalty revenue was up 29 percent.
