Parthus believes the worst has passed for IP

Parthus believes the worst has passed for IP
By Anthony Clark, EE Times UK
October 19, 2001 (6:47 a.m. EST)
URL: http://www.eetimes.com/story/OEG20011018S0015

Parthus, the Irish developer of intellectual property (IP) platforms for mobile devices, will reach break even in mid-2002, according to CEO Brian Long.

He said that the bottom has been reached for IP companies: "The market is as bad as it's going to get, we're banking on it."

Long's upbeat prediction followed solid Q3 results that saw the company's income from licensing come in ahead of market expectations.

"We have delivered a solid performance particularly given the market conditions - our licensing revenue grew by 82%," he said.

Parthus recorded a Q3 loss of $3.2m, up from $1.5m for the same quarter in 2000 but Long says this is principally due to recent acquisitions.

"The overall trend is improving," he said. "We have $127m in the bank and a low cash burn."

Long also cited the licensing of the company's power management technology for mobile devices to Motorola as indicative of a stron g order book.