Watch List Profile: MIPS Technologies, Inc.

MIPS Technologies, Inc. (NASDAQ: MIPS)
Mountain View, CA 94043
http://www.mips.com/

52-week low / high: $6.92 / $10.20
Shares Outstanding:  43.88 million

MIPS Technologies is an intellectual property (IP) company that creates and licenses processor designs and cores to semiconductor makers, ASIC (Application-Specific Integrated Circuit) developers and manufacturers (OEMs). In order to remain competitive in fast-changing markets, most OEMs are opting for the industry-standard intellectual property (IP) offered by MIPS Technologies, which enables SoC (System on Chip) design for well below the cost of internally designed solutions.

MIPS designs and licenses the highest performance 32- and 64-bit semiconductor architectures and cores to more than 110 licensees, including Toshiba, Sony and Texas Instruments. MIPS designs are found in hundreds of devices, from laser printers to digital televisions, broadband access devices, handsets and more.
In August 2007, MIPS Technologies broadened its technology offering by acquiring Chipidea Microelectronica S.A, a leading supplier of analog and mixed signal processor designs to the wireless, digital consumer and connectivity markets.

Recent financial results have been excellent. Revenue for the fourth quarter ended June 30, 2007 was $23.7 million, up 30% from $18.2 million a year ago and up 24% sequentially. For the year, revenue was $83.3 million, up 30% from $64.1 million for fiscal 2006.

Non-GAAP net income in the fourth quarter (excluding equity based compensation) was $4 million, or $0.09 per diluted share, compared with $3.5 million, or $0.08 per diluted share, in the third quarter.

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