MIPS Technologies Reports Fourth Quarter and Fiscal 2012 Financial Results

SUNNYVALE, Calif. - August 15, 2012 - MIPS Technologies, Inc. (NASDAQ: MIPS), a leading provider of industry-standard processor architectures and cores for home entertainment, networking, mobile and embedded applications, today reported consolidated financial results for its fourth fiscal quarter and fiscal year ended June 30, 2012. All financial results are reported in U.S. GAAP unless otherwise noted. 

Selected Fiscal 2012 Financial Highlights: 

• Revenue was $86.2 million, a year-to-year increase of five percent
• Licensee royalty units grew to 708 million units from 656 million units in FY'11
• Non-GAAP net income was $21.8 million
• Non-GAAP EPS was $0.40
• Cash and investment balances ended the year at $110.9 million 

Fourth Quarter Fiscal 2012 Financial Details: 

Revenue from royalties was $10.6 million, while license revenue was $27.8 million, including the Broadcom license. The Company's fiscal Q4'12 GAAP net income was $17.3 million or $0.31 per share compared to a net loss of $2.5 million and $0.05 per share in the third quarter of fiscal 2012.

Non-GAAP net income in the fourth quarter of fiscal 2012, which excludes certain stock and non-recurring charges, was $19.2 million or $0.35 per share, compared with a loss of $0.8 million or $0.01 per share in the third quarter of fiscal 2012. The tables below provide a reconciliation of non-GAAP measures used in this press release to the corresponding GAAP results.

"In the fourth quarter, we signed one of the largest licensing agreements in MIPS Technologies' history. This license is the first tangible result of our strategic efforts around patent monetization, and we continue to consider all of our options in this area. In Q4 we also entered a new era of product innovation with the announcement of our new Aptiv Generation of microprocessors, which push performance and efficiency to new levels," said Sandeep Vij, chief executive officer, MIPS Technologies. 

MIPS Technologies invites you to listen to management's discussion of Q4 and fiscal 2012 results in a live conference call beginning today at 1:45 p.m. Pacific:

• Live webcast: visit www.mips.com/company/investor-relations/ for a link to the listen-only webcast
• Live conference call: dial 312-470-0125; password: MIPS
• Replay call (available for 30 days shortly following the end of the conference call): dial 203-369-1251; password: MIPS

An audio replay of the conference call will also be posted on the company's website at www.mips.com/company/investor-relations/. 

Financial Tables

To read financial tables, click here

About MIPS Technologies, Inc.

MIPS Technologies, Inc. (NASDAQ: MIPS) is a leading provider of industry-standard processor architectures and cores for home entertainment, networking, mobile and embedded applications. The MIPS architecture powers some of the world's most popular products. Our technology is broadly used in products such as digital televisions, set-top boxes, Blu-ray players, broadband customer premises equipment (CPE), WiFi access points and routers, networking infrastructure and portable/mobile communications and entertainment products. Founded in 1998, MIPS Technologies is headquartered in Sunnyvale, California, with offices worldwide. For more information, contact (408) 530-5000 or visit www.mips.com.