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MIPS Technologies (Nasdaq: MIPS) $10.65. Announced Monday after market close consolidated financial results for its first fiscal quarter ended September 30, 2010. All financial results are reported in U.S. GAAP unless otherwise noted.
Revenue from royalties was $13.6 million, an increase of 40 percent from the first quarter a year ago. License revenue was $8.9 million, an increase of 71 percent from the $5.2 million reported in the first quarter a year ago. The Company's fiscal Q1 GAAP net income was $7.6 million or $0.16 per share compared to $0.6 million and $0.01 per share in the first quarter a year ago.
What They Do: MIPS Technologies is a leading provider of industry-standard processor architectures and cores that power some of the world's most popular products for the home entertainment, communications, networking and portable multimedia markets.
SuperGen, Inc. (Nasdaq: SUPG) $2.33. Announced Monday after market close financial results for the third quarter and nine months ended September 30, 2010.
“The third quarter was another profitable one for SuperGen. Royalties from Dacogen sales increased significantly, and we ended the quarter with more than $112 million in unrestricted cash, cash equivalents and current and non-current marketable securities, and no debt. As a result, we have raised both our royalty revenue and net income guidance for 2010,” said James S.J. Manuso, Ph.D., President and CEO. “We continue to advance the development of our drugs in the clinic, and SGI-110, a novel, second-generation DNA methylation inhibitor, is on schedule to enter a first-in-human clinical trial in myelodysplastic syndromes and AML during November.”
Total revenues for the 2010 third quarter were $13.4 million compared with $10.4 million for the same prior year period. Total revenues for the 2010 third quarter includes royalty revenue of $13.2 million compared with $10.4 million for the same prior year period. Royalty revenue is earned pursuant to the license agreement entered into with MGI PHARMA (acquired by Eisai Corporation of North America in January 2008) during 2004, which granted MGI PHARMA exclusive rights to the development, manufacture, commercialization and distribution of Dacogen (decitabine) for Injection. The Company generally recognizes royalty revenue when it is received. Total revenues for the 2010 third quarter also include $127,000 of development and license revenue resulting from the recognition of deferred revenue relating to payments received pursuant to the research and license agreement entered into with GlaxoSmithKline (GSK) during October 2009. There was no similar development and license revenue for the same prior year period.
The Company reported net income for the 2010 third quarter of $3.9 million, or $0.06 per basic and diluted share, compared with net income of $833,000, or $0.01 per basic and diluted share, for the same prior year period.
What They Do: SuperGen is a pharmaceutical company dedicated to the discovery and development of novel cancer therapeutics in epigenetic and cell signaling modulation.
United Stationers Inc. (Nasdaq: USTR) $56.78. Announced Moday after market close that its board of directors approved and authorized the company to purchase an additional $100 million of its common stock. Repurchases will be made in accordance with applicable securities laws in the open market or in privately negotiated transactions. Depending on market conditions and other factors, these repurchases may commence or cease from time to time without prior notice.
The company currently has $9.3 million remaining under a prior $100 million authorization approved by its board in May 2008.
What They Do: United Stationers Inc. is a leading wholesale distributor of business products, with 2009 net sales of approximately $4.7 billion.
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