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Imagination Technologies swings to full-year loss

Tue, 05th Jul 2016 07:57

(ShareCast News) - Imagination Technologies, which design chips for Apple, swung to a loss for the year ended 30 April as revenue dropped amid a significant restructuring of the business.The company reported a pre-tax loss of £63.2m from a profit of £2.2m the year before, as revenue declined 23% to £120m.Licensing revenue from continuing operations fell to £17.1m from £37.8m, while royalty revenue dropped to £102.7m from £118.4m due to the ramp down in sales of a legacy chip manufactured by a significant customer.Imagination said it saw a "significant slowdown" in the semiconductor market, driven by weaker smartphone sales, a general economic slowdown and build-up of inventory in China. This resulted in lower license sales for the group and continued into the second half of the year.Chief executive Andrew Heath said: "As previously indicated in our trading update in May, the last year has been particularly challenging for Imagination. The results reflect a combination of difficult trading conditions and a significant restructuring of the business."However, we have now taken the necessary action to put Imagination back onto a sound financial footing. We have also conducted a comprehensive operational review. Going forwards Imagination will be an IP licencing business."At 1043 BST, Imagination shares were down 4.8% to 174.75p.
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25 Jan 2016 08:02

Imagination Technologies reviewing options for Pure division

(ShareCast News) - Multimedia, processor and communications technology company Imagination Technologies said on Monday that it is reviewing strategic options for its audio products division Pure. The statement followed a report in the Sunday Times suggesting the company was looking to sell the loss-

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25 Jan 2016 07:46

Imagination Technologies Reviewing Options For Pure Division

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25 Jan 2016 07:27

Imagination Tech says reviewing options for Pure digital radio

LONDON, Jan 25 (Reuters) - Imagination Tech, the British chip designer whose shares are languishing at six-year lows after a profit warning in December, said it was reviewing strategic options for its loss-making Pure digital radio business. Chief Executive Hossein Yassaie has previously sa

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24 Jan 2016 16:11

Sunday newspaper round-up: HMRC's new tax deals, Tesco's debt, Sainsbury's

(ShareCast News) - In the wake of Google's £130m tax settlement with the UK taxman, other giant US corporations are close to shaking hands on their own deals. HM Revenue & Customs officials have confirmed to the Sunday Times that Amazon, Facebook, Microsoft and McDonald's are all close to agreements

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21 Jan 2016 13:22

BUZZ-Laird: in-line update spurs relief rally for Apple supplier

** Electronic components maker Laird +1.4%, bouncing off near 1-yr lows hit on Weds, after saying it expects earnings for 2015 to be in line with expectations ** FY revenue rises 12% to £630 mln ** Laird fallen along with fellow semis in recent weeks amid reports of slowing iPhone sh

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11 Jan 2016 09:35

BROKER RATINGS SUMMARY: JPMorgan Upgrades BAE Systems To Overweight

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22 Dec 2015 15:31

N Brown CEO treats herself to first share purchase

(ShareCast News) - N Brown's chief executive officer Angela Spindler made her first purchase on Tuesday, nabbing 23,782 shares in the home shopping business at 292.80p each. Elsewhere, Imagination Technologies' non-executive director Andrew Heath picked up 37,710 shares in the chip maker at 131.60p

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22 Dec 2015 09:55

DIRECTOR DEALINGS: Imagination Technologies Non-Executive Buys Shares

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21 Dec 2015 15:53

DIRECTOR DEALINGS: Imagination Technologies Chairman Buys Shares

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18 Dec 2015 09:39

BROKER RATINGS SUMMARY: UBS Initiates Restaurant Group At Buy

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17 Dec 2015 17:26

DIRECTOR DEALINGS SUMMARY: Imagination Tech CEO Buys 20,000 Shares

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17 Dec 2015 14:29

DIRECTOR DEALINGS: Imagination CEO Buys Shares After Profit Warning

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16 Dec 2015 09:50

BROKER RATINGS SUMMARY: Exane BNP Raises Pearson To Outperform

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15 Dec 2015 13:56

UPDATE 1-Imagination Tech warns on profit as smartphone market softens

* Shares fall to six-year lows after profit warning * Analyst says company delivered "terrible" numbers * Swings to first-half loss in operating profit (Adds CEO comments, analyst reaction, shares) By Paul Sandle LONDON, Dec 15 (Reuters) - Imagination Tech, the British c

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15 Dec 2015 09:40

BUZZ-Imagination Tech: profit warning on soft smartphone market takes another bite out of stock

** Imagination Technologies, which supplies graphics technology to Apple, -6.4%, second-top faller on FTSE Small Cap index after warns on profit, blaming slowdown in semiconductor and smartphone markets ** Mirrors weakness from German peer Dialog Semi, which cut its outlook on Tues citing s

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