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Forum List » Business News and Headlines SEC Filings, Earing Reports, Press Releases  
Virage Logic Corp. Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: August 9, 2010 03:38PM
Virage Logic Corp. (VIRL) filed Quarterly Report for the period ended 2010-06-30. Highlight of Business Operations:Royalty revenues for the three months ended June 30, 2010 and 2009 were $6.1 million and $1.2 million, respectively. Royalty revenues for the nine months ended June 30, 2010 and 2009 were $16.9 million and $5.9 million, respectively. Revenues for the three months ended June 30, 2010 totaled $27.1 million, increasing 127.7% from $11.9 million for the three months ended June 30, 2009. The increase resulted from a $9.3 million increase in license revenues, $1.0 million increase in maintenance revenues, and an increase of $5.0 million in royalty revenues. Revenues for the nine months ended June 30, 2010 totaled $74.0 million, increasing 115.9% from $34.3 million for the nine months ended June 30, 2009. The increase resulted from a $27.0 million increase in license revenues, $1.8 million increase in maintenance revenues, and an increase of $10.9 million in royalty revenues. License revenues for the three months ended June 30, 2010 were $18.3 million, representing an increase of $9.3 million, or 103.0%, as compared to $9.0 million for the three months ended June 30, 2009. License revenues for the nine months ended June 30, 2010 were $50.1 million, representing an increase of $27.0 million, or 117.3%, as compared to $23.0 million for the nine months ended June 30, 2009. The license revenue increases for the three and nine months ended June 30, 2010 are mainly attributed to the revenues generated from the acquisition of ARC and the transaction we entered into with NXP along with a progressive change occurring in the semiconductor industry towards the use of third-party wafer foundries by an increasing number of SoC integrated circuit manufacturers, including most major IDMs. Maintenance revenues for the three months ended June 30, 2010 were $2.7 million, representing an increase of $1.0 million, or 56.6%, as compared to $1.7 million for the three months ended June 30, 2009. Maintenance revenues for the nine months ended June 30, 2010 were $7.1 million, representing an increase of $1.8 million, or 33.4%, as compared to $5.3 million for the nine months ended June 30, 2009. The maintenance revenue increases for the three and nine months ended June 30, 2010 are mainly attributed to the revenues generated from the acquisition of ARC. Royalty revenues for the three months ended June 30, 2010 were $6.1 million, representing a increase of $5.0 million, or 418.8%, as compared to $1.2 million for the three months ended June 30, 2009. Royalty revenues for the nine months ended June 30, 2010 were $16.9 million, representing an increase of $10.9 million, or 184.4%, as compared to $5.9 million for the nine months ended June 30, 2009. The increases in royalty revenues for the three and nine months ended June 30, 2010 are mainly attributed to increased sales of advanced technology semiconductor wafers from our foundry partners, and royalty income from semiconductor manufacturers for our ARC® processor product portfolio.
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