US Edition 
iPad chip designer Imagination Technologies hits nearly £100m of revenues
Imagination Technologies, the British company which designs microchips used in the Apple iPhone and iPad, turned over nearly £100m in the year to 30 April 2011 after it shipped nearly twice as many chips as the previous year.
Revenues climbed 21pc to £98m during the period, while pre-tax profit jumped 61pc to £16.4m, helped by a jump in revenues from Imagination Technologies' licensing business.
The company shipped 245m microchips during the year, compared to 126m in 2009/10, putting it well ahead of earlier guidance that it would ship 200m. It has set a new target to be shipping 1bn chips a year by 2016.
Its technology division saw a 47pc increase in revenues to £69.8m, offsetting a weaker performance from its digital radio business, Pure, where revenues dropped from £33.6m to £28.2m.
Chief executive Hossein Yassaie said: "Our technologies, instrumental in many of the key market trends, continue to gain ground and are powering many market-driving and iconic end-user products.
"With well over 500m devices across numerous categories having shipped to date, approximately half of this volume during the last financial year alone, we now see a revised target of around 1bn units as a reasonable goal within five years."
Imagination Technologies signed new licensing partnerships with technology manufacturers including Fujitsu, LG, and ST-Ericsson during the reporting period.
Mr Yassaie added that sales of digital radios had been hit by the slowdown in consumer spending and caution among retailers, but predicted it will pick up in the medium-term and in international markets.