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The company describes itself as "a leading supplier and developer of semiconductor intellectual property platforms targeting next generation Mobile-Internet enabled devices and applications such as Bluetooth, MP3 Internet Audio, GPS, Smartphones and 3G Cellular".
For a technophobe like me, it all sounds horribly complicated. But complicated or not, you can't argue with the growth in popularity of all things "Mobile-Internet". And that growth is all reflected in today's numbers from Parthus. In short, it's chips with everything!
Third quarter turnover soared 76% to $8.5m, a performance underpinned by revenues from chip licensing and royalties tripling to $4.5m. Parthus is keen to highlight that 10 licensing deals were signed in the quarter, taking its total of agreements now in place to 42. Significantly, the average licence size has risen 175% over the past twelve months and now exceeds £1m.
However, there was a stark divergence between the turnover and profit performances. Losses from operations surged from $0.7m to $4.5m, as increased R&D and marketing expenditure took their toll on the profit and loss account.
Infostream
Parthus also took today's results as an opportunity to announce a new product. Developed in conjunction with ARM Holdings (LSE: ARM), Psion (LSE: PON) and Symbian, "Infostream" is described as "one of the industry's most advanced mobile computing platforms".
Infostream, according to Parthus, is designed to be "the silicon platform for the next generation wireless Internet devices... (and) leads the industry in processing power, power consumption requirements and levels of on-chip integration." This "mobile Internet-on-a-chip platform" all sounds very exciting. No doubt those more informed Fools can explain how Infostream's "3 full duplex UARTS including IrDA" and the "10 channel DMA for USB, AAC and MMC" support Parthus' enthusiasm.
With Parthus shares gaining 18.5p to 287.5p in early trade, the company is now valued at £1.56b. Annualising today's quarter results places the company on a price to sales ratio of around 65. So, a lot's expected by investors. Couple the rich rating with all the technobabble and you have company that warrants a "tread with care" notice for the ordinary investor.
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