ARM profits up 22 percent as licence demand booms -

ARM has announced growth in its first quarter financials, with a profit increase of 22 percent to £61.9 million ($99.9 million).

The firm saw its sterling revenues up 14 percent to £132.5 million in the first quarter as it benefits from the continued boom in smartphone and tablet sales.   The figure for dollars was $209.4 million, an increase of 13 percent.

ARM says that 1.1 billion chips have been shipped, with 0.8 billion into consumer and embedded digital devices - up 15 percent from a year ago.  

Licences for its Cortex range of chips have been been selling rapidly, as its low power chips steal a march on Intel, which saw its first Android smartphone released this week with Medfield.

With ARM getting a look in on the forthcoming Windows 8, the British chip design firm seems to be rather confident of its outlook.

CEO Warren East said that demand for its licences is being driven by a “remarkable variety” of end market applications, with the firm outperforming the semi industry as a whole.

“This growth enables us to invest in future innovative technology as well as delivering increases in profit and cash flow,” East said.