23rd Apr 2008 07:00
Arc International PLC23 April 2008 Media Contact: Investor Contact: Lee Garvin Flanagin Juliet Clarke/Matt DixonARC International Financial Dynamics+1 408 437 3433 +1 44 20 7831 3113 ARC International plc ("ARC" or the "Company") Interim Management Statement SAN JOSE, Calif., and ST. ALBANS, England, April 23, 2008 - ARC International(LSE: ARK), a leading provider of consumer intellectual property (IP) to OEM andsemiconductor companies, today issued its first Interim Management Statement asrequired by the UK Listing Authority's Disclosure and Transparency Rules,covering the period January 1, 2008 to the date of this announcement. Current Trading and Financial Performance ARC has signed a number of new licensing agreements since the beginning of theyear including contracts delayed from the fourth quarter of 2007. Backlog and cash position remain strong and ARC is achieving cost savings as aresult of recent acquisitions. Conditions in North America continue to reflectweakness in the U.S. economy and some prospective customers are experiencingdelays and cancellations of planned projects. Despite the market softness, newlicensing opportunities continue to be identified. Management remains confidentin the company's trading opportunities and expects ARC's financial performancefor the year ending December 31, 2008 to be in line with expectations. AcquisitionOn February 12, 2008, ARC acquired Sonic Focus, Inc. and its audio enhancementtechnology designed for a wide range of electronic products. For financial year2007, Sonic Focus operations were breakeven with approximately £600,000 inrevenue. The acquisition is not expected to negatively impact ARC's 2008operating results. Sonic Focus has an established customer base of "Tier 1"OEMs globally and is gaining significant traction in the audio post-processingmarket. We are making good progress on our integration plans. Outlook ARC has a solid foundation upon which to deliver continued growth. Management'sconfidence in the company's trading prospects remains unchanged since thepreliminary results statement in February. About ARC International plcARC International is a world leading provider of consumer IP to OEM andsemiconductor companies globally. ARC's award-winning, vertically integratedaudio and video solutions enable high quality multimedia content to be captured,shared, and played on a wide range of electronics devices. ARC's 140+ customerscollectively ship hundreds of millions of ARC-BasedTM chips annually in productssuch as Mobile TVs, Portable Media Players, WiFi-/WiMAX-enabled computers, flashstorage, digital cameras, network appliances, and medical and governmentsystems. ARC International maintains a worldwide presence with corporate and research anddevelopment offices in San Jose and Lake Tahoe, Calif., St. Albans, England, andSt. Petersburg, Russia. For more information visit www.ARC.com. ARCInternational is listed on the London Stock Exchange as ARC International plc(LSE: ARK). ARC, ARC-Based, and Sonic Focus are trademarks or registered trademarks of ARCInternational. All other brands or product names contained herein are theproperty of their respective owners. This press release may contain certain"forward-looking statements" that involve risks and uncertainties, including thedevelopment, implementation, and release of features described herein. These areat the sole discretion of ARC International. Licenses from 3rd parties forcertain software and essential patents may be required depending on licensee'suse/implementation. For other factors that could cause actual results to differ,visit the company's Website as well as the listing particulars filed with theUnited Kingdom Listing Authority and the Registrar of Companies in England andWales. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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