Plucky British chip firm ARM Holdings' first half profit plunged, it was announced today, under the company's new leadership, but it did note record cash generation.
Pre-tax profit was £15 million for the second quarter, significantly down from £54.8 million the same time last year.
But adjusting for acquisition and share payment costs, as well as IP indemnity, Linaro charges, and share of results in joint venture, ARM did say normalised profit was £86.6 million for the quarter compared to £66.5 million the same time last year. Intangible assets as of 30 June 2013 were £625.1 million.
Half of the 25 licences signed for the quarter were with Asian semiconductor companies, with ARM noting increased activity in the region, particularly China. The quarter saw ARM signing its first Chinese subscription licence, with this company gaining access to much of ARM's portfolio, including Mali graphics processors.
The order backlog rose ten percent sequentially, and ARM did note record net cash generation of £96 million.
A massive 2.4 billion ARM based chips were shipped, up 20 percent compared to the same time last year.
In a statement, CEO Simon Segars said the company continued to see strong demand for next-gen ARM technology, noting five Cortex-A series processor licences were signed, along with seven for Mali.
"During the quarter, our partners announced exciting new design wins as ARM-based chips were selected for high-volume OEM products," Segars said. "These included many new smartphones and tablets, ARM-based 64-bit servers and mobile base stations".