UK-based chip developer, ARM, has reported growth in profits and sales following increased demand for smartphone and tablet licences in the fourth quarter of 2010.
For the period ending 31 December 2010, ARM posted an increase of pre-tax profit by 47% in the fourth quarter of 2010 from £32.3m a year earlier to £47.6m.
Sales were also up 34% from £85.2m in the same period last year to £113.9m. The company said growth was driven by 35 processor licences being signed for smartphones, mobile computers, servers and smartcards in the quarter.
Warren East, CEO, said the company will move into competitive new markets in 2011.
"ARM continues to sign licences with influential market leaders in an increasingly digital world, and as the industry chooses ARM technology in a broadening range of electronic products, it further drives our long-term royalty opportunity," said Warren East.
Sales for the full year 2010 were up 33% on 2009 to £406.6m. Pre-tax profit for the full 2010 rose 73% compared to 2009 to £167.4m.