Shares in Parthus Technologies rose 12 per cent yesterday as the Dublin firm reported its first pro forma profit and said there were signs that the semi-conductor industry was stabilising. The firm, which licenses intellectual property to chip-makers, also posted a narrowing net loss of $5.6 million (€5.5 million) for the six months ended June, compared with $8.2 million last year.
Parthus generated underlying earnings of $66,000 in the second quarter, excluding costs for amortisation of intangibles, merger and non-stock cash compensation.
The firm beat analysts' expectations by achieving pro forma profitability in the second quarter. The consensus was that it would reach this landmark in the third quarter.
Parthus's results were boosted by licensing and royalty revenue growth in the second quarter, which rose 37 per cent year on year to $9.8 million, up from $8.9 million.
Total revenues for the first six months of 2002 increased 8 per cent to $21.5 million, up from $19.9 million in the same six-month period of 2001.
The firm also signalled that the worst could be over for the battered semi-conductor sector.
