ARM Holdings Profits, Shipments Soar

The U.K. chipmaker said its first-quarter adjusted pretax profit rose to 37.6 million pounds ($57.9 million) from 23.9 million pounds a year earlier as shipments soared.
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LONDON (

TheStreet

) --

ARM Holdings

(ARMH)

, the U.K. chipmaker, said its first-quarter adjusted pretax profit rose to 37.6 million pounds ($57.9 million) from 23.9 million pounds a year earlier as shipments soared.

Shipments of ARM-based chips in the first quarter rose more than 50% from a year earlier, "driven by strong growth from smarter mobile devices, digital TVs, disk drives and microcontrollers, and leading to record royalty revenues," the company said in a press release Tuesday.

ARM said revenue rose 16% to 92.3 million pounds.

ARM Holdings said despite the "encouraging start to 2010," there remains a "lack of certainty as to the impact of the broader macroeconomic environment on end-consumer demand later in the year. "

ARM Holdings, however, said as it "continues to execute its strategy, we expect group dollar revenues for the full-year 2010 to be in line with current market expectations." Current market expectations are about $576 million, according to

Dow Jones Newswires

.

ARM makes chips for

Apple's

(AAPL) - Get Report

iPhone. There have been rumors that

Apple might be looking at ARM

as a takeover candidate.

-- Reported by Joseph Woelfel in New York.

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