DUBLIN, Ireland-Wireless data platform provider Parthus Technologies plc announced revenue for the second quarter of $10.8 million and a net loss of $2.3 million, news that sent the company’s stock up about nine percent to about $4 per share.
“While the semiconductor operating environment remains challenging, the combination of continued licensing growth, up 29 percent, a strong increase in royalties and prudent cost management with operating costs down 23 percent year-on-year has enabled us to achieve pro forma profitability one quarter ahead of stated objectives,” said Elaine Coughlan, the company’s chief financial officer.
Parthus also said it is on track in its previously announced merger with Ceva.
