LONDON May 2 British chip designer Imagination
Technologies warned on Thursday that its full-year
profit would be below market expectations after delays in
licensing its blueprints for graphics and video processors to
The firm, which licenses its designs to customers like Apple
for the iPhone and MediaTek for lower-end
smartphones, said that some deals were closing more slowly than
it expected because of organisational changes at some of its
Imagination said that it was confident the issue would be a
short term phenomenon related to the "lumpy" nature of licensing
It also said that difficult trading at Pure, the division
that designs and manufactures digital radios, in a number of
countries, including Britain, would hit full-year profits.
In a trading update covering the four months to end-April,
firm said that it expects 2013 unit shipment growth to be in
line with expectations.
Before the statement, analysts were forecasting the firm
would make full year pre-tax profits of 41.75 million pounds,
according to a Thomson Reuters I/B/E/S poll.
Shares in the firm are up 7.36 percent so far this year to
424.5 pence, giving it a market valuation of around 1.13 billion