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Monday, 15 October, 2001, 09:09 GMT 10:09 UK
ARM upbeat as chief steps aside
Products that use ARM chips
ARM's chips power many everyday products
UK computer chip designer ARM has reported a 46% increase in third-quarter profits.

The news comes as ARM announced it was splitting the role of chief executive and chairman in order to "strengthen its board".

Chief executive Sir Robin Saxby will take up the newly-created role of executive chairman, while Warren East becoming chief operating officer.

Sir Robin told BBC Breakfast that ARM's double-digit growth was down to an increase in the number of its customers rather than any improvement in sales in the hi-tech market.

Several of ARM's key customers, including Nintendo, had also launched new products, while the general move from eight-bit to 32-bit technology, which the company specialises in, had also helped.

For these reasons, he said, "The momentum for growth is greater than the slowdown."

Confident

Sir Robin said ARM had signed up a further eight manufacturing partners last month to add to the 71 it already had.

The company was upbeat about its future prospects.

Chief financial officer Jonathan Brooks said: "Given our high level of forward orders we remain confident about the outlook for our business for the remainder of the year.

"We also feel well placed to make a strong start in 2002."

Shares up

For the third quarter ended 30 September 2001, ARM posted total revenues amounting to 37.6m, representing a 4% increase from 36m in the second quarter of 2001, and a 42% increase over third-quarter 2000 revenues of 26.4m.

This was above an analysts' consensus of 36.5m, and towards the top of a forecast range of 34.8-38.1m.

Pre-tax profits rose 46% to 12.9m compared to 8.8m in the same period last year, and up 6% from 12.7m in the second quarter.

ARM shares were up 3% at 308p in early trading.

See also:

23 Jul 01 | Business
ARM posts 46% profits jump
18 Jul 01 | Business
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11 Apr 01 | Business
UK chip designer remains 'confident'
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08 Mar 01 | Business
Intel cuts 5,000 jobs
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Autonomy to drop out of FTSE 100
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'Smaller, faster' computers possible
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