Financial Times  Mar 26  Comment 
FTSE 100 ended down 1.3 per cent, losing 95.64 points to 6,895.33
Market Intelligence Center  Mar 24  Comment 
For a hedged play on ARM Holdings (ARMH) MarketIntelligenceCenter.com’s patented trade-picking algorithms selected a Jul. '15 $50.00 covered call for a net debit in the $48.36 area. That is also the break-even stock price for the covered call....
Market Intelligence Center  Mar 18  Comment 
The patented option-trade picking algorithms that power MarketIntelligenceCenter.com's Artificial Intelligence Center are highlighting two trades on ARM Holdings (ARMH) today after it closed at $52.69 on Tuesday. For more conservative investors,...
Market Intelligence Center  Mar 10  Comment 
ARM Holdings (ARMH) traded between $53.16 and $53.65 before closing at $53.26 Monday and presents some attractive trading opportunities today. MarketIntelligenceCenter.com’s algorithms have picked a Jul. '15 $50.00 covered call for a net debit...
Motley Fool  Mar 9  Comment 
The next generation high-end ARM CPU core, known as Ares, should bring some very impressive performance enhancements over the just-announced Cortex A72.
Motley Fool  Mar 6  Comment 
Qualcomm has adopted big.LITTLE technology in its lineup and will likely do so for some product lines going forward.
Motley Fool  Mar 3  Comment 
After disappointing in 2014, shares of ARM are off to a great start in 2015. However, patient investors might find a better entry point than today's prices.
Motley Fool  Mar 2  Comment 
After succeeding in smartphones and tablets, ARM is gunning for double-digit percentage market share in two large chip markets.
Motley Fool  Feb 23  Comment 
Some good news for chip IP vendor ARM Holdings.
Financial Times  Feb 18  Comment 
FTSE 100 ends session unchanged at 15-year high


Cambridge, England-based ARM Holdings plc (ARMH) licenses intellectual property (IP) to IC manufacturers. Until its IPO in 1998, the company operated as a joint venture between Apple Computer Ltd. (U.K.) and Acorn Computer Ltd. Products are currently targeted at the wireless, consumer entertainment, mass storage, imaging, automotive, industrial, microcontroller, security and networking end markets.

ARM offers a wide range of processor cores based on a common architecture, which enables high-performance low power solutions that reduce system cost. ARM is the industry's leading provider of 32-bit embedded reduced instruction set computing (RISC) microprocessors with almost 75% market share (according to industry analyst Andrew Allison, January 2002). Its broad range of processors target open platforms running complex operating systems, for example, Linux, Palm OS, Symbian OS and Windows CE in wireless, consumer entertainment and imaging applications embedded real-time systems for mass storage, automotive and power-train, industrial and networking applications and secure applications such as smart cards, SIM cards and payment terminals. The nine product families that make up the range are the ARM7 Thumb Family, ARM9 Thumb Family, ARM9E Family, ARM10E Family, ARM11 Family, SecurCore Family, OptimoDE Data Engine Family and the Cortex Family. ARM's architecture is compatible with the 32-bit ARM and 16-bit Thumb Instruction Set Architectures (ISAs) as well as architecture extensions, supporting Java acceleration (Jazelle ), security (TrustZone ), Intelligent Energy Manager (IEM), SIMD and NEONTM technologies.

The company provides a licensable, extendable solution made up of hardware (defining the CPU's application focus), standard operating system peripheral blocks and the interconnecting material that enables integration of additional functionality. This ultimately defines the characteristics of the final product. The solution also includes software and integration methodology tools. This platform, referred to as the ARM PrimeXsys , enables the creation and delivery of leading-edge digital devices through parallel development on the chosen OS and additional application software, while the validation and creation of the actual silicon is in progress.

ARM's core microprocessor business is supplemented with consulting, support and maintenance services as well as development systems, systems software and electronic design automation (EDA) products and services. The company's development tools, (the ARM RealView ) family), support complex system-on-chip (SoC), MCU and ASSP devices that integrate multiple cores. The tools provide all software development tasks, from conception to delivery. In addition, the company provides CoreSight technology that offers debug and trace solutions for SoCs, Embedded Trace Macrocells TM (ETM) that provide debug and trace facilities for ARM processor cores (ETM family cores include the ETM7 , ETM9 , ETM10RV and ETM11RV ), and ARM PrimeCell Level 2 Cache controllers (the ARM L210 for AMBA AHB-based systems, and the ARM L220 for AMBA AXI-based systems) that reduce problems arising from memory bandwidth and latency.

With the December 2004 acquisition of Artisan, the company broadened its product range. The Artisan Design Platform is built on a broad portfolio of library products (system interface high-speed PHYs, analog timing IP, general-purpose and specialty I/Os, memory generators and standard cells) that provide the physical IP building blocks needed to develop complex IC designs. The Artisan Process-Perfect Design Methodology allows IC manufacturers to use the library products at desired silicon technologies. Products are optimized for silicon technologies at the leading foundries such as TSMC, UMC, SMI, Chartered, IBM, Tower Semiconductor, DongbuAnam, HHNEC, HJTC, Silterra and Vanguard. They are accompanied by an extensive set of views and models that make them compatible with leading EDA tools. The platform also provides a standard interface, which enables the customer to choose from a wide range of ARM's partner IC solutions (from leading EDA, IP and design service companies) and advanced process technologies, thus increasing product integration. Both companies generate the bulk of their revenue from intellectual property license fees and royalties. There is little customer or product overlap between the companies. Therefore, potential revenue synergies exist as each company targets the other's customer base.

ARM's products have been licensed to 165 semiconductor companies all over the world, including Intel, Samsung, LSI Logic, Sun Microsystems and Texas Instruments. ARM-based products have received support from over 30 third party embedded OS providers and over 50 development tools companies such as Texas Instruments, Cygnus Solutions, Metaware Incorporated and Microtec Research. The company also partners with software and design companies (over 40 technology partners) to enable greater product differentiation. Competition comes from various sources, its top competitors being IBM Microelectronics, MIPS Technologies and Toshiba.

The company reports its revenue in two segments Products and Services. ARM generated revenue of 152.9 million in 2004, of which Products contributed 91% and Services, the balance. The Products segment revenue consisted of licenses, royalties and development systems, which comprised 39%, 39% and 22%, respectively, of total revenue. During 2004, the company added 65 new licenses, of which 31 were multi-use and 34 per-use. Product-wise, 15 of the licenses were for ARM11 products, 31 for ARM9 products, 15 for ARM7 products, three for next-generation ARM processors and one for licensing architecture. Licensing of products other than microprocessors generated 18% of 2004 revenue.

Below is a table that converts the yearly revenue and earnings per ADS (EPADS) figures into United States dollars (US$) at the weighted monthly average exchange rate. Future periods use the current spot rate as a forward proxy. Note that there have not been any accounting adjustments made from the reported financial results and this presentation is for illustrative purposes only. ARMHY reports all financial results in UK sterling ( ) using United States GAAP accounting rules.

Converted ** Fiscal Year Revenue and EPADS

Year Revenue (US$ millions) Pro forma EPADS (US$) GAAP EPADS (US$) Foreign Exchange Rate
2003 $211 A $0.09 A $0.06 A 1.6450
2004 $281 A $0.19 A $0.15 A 1.8356
1Q05 $105 A $0.05 A $0.04 A 1.8996
2Q05 $107 A $0.06 A $0.04 A 1.8428
3Q05 $101 A $0.06 A $0.04 A 1.7767
4Q05 $109 A $0.06 A $0.05 A 1.7300
2005 $417 A $0.23 A $0.17 A 1.7300
2006 $460 A $0.26 A $0.15 A 1.7346

    • Conversions at historical weighted monthly average exchange rate with future periods using the current spot rate as a forward proxy


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