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Chipmaker ARM Holdings has rustled up a profit for the quarter, thanks in part at least to Apple's iPod.

For the first quarter, ended 31 March 2005, ARM brought in revenues of £55m, an increase of 23 per cent on the same period last year. ARM's intellectual property is included on chips used in Apple's iPod.

Income before tax was £12.5m including £6m in acquisition costs and £3m in stock option expenses. Last year it made £9.4m. In August last year ARM bought Artisan which licenses physical component designs to chip manufacturers. Observers at the time feared ARM had paid too much for the firm.

Warren East, ARM's chief executive said the quarter saw the first examples of ARM licensees also taking Artisan's physical IP.

Despite foreseeing a flatter market overall ARM continues to predict annual growth of 20 per cent in dollar terms.

ARM employs 1,179 full time employees.

More details available on ARM's website here®

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