"The Group's loss on ordinary activities before tax reduced from £6.3m in 1996 to £2.9m in 1997."
"...losses fell from £4.8m to £3.7m, despite an increase of £1.7m in research and development expenditure."
"Revenues from consultancy and licensing rose from £3.0m in 1996 to £9.0m in 1997..."
"...revenues from products fell from £27.0m to £16.2m..."
"Consultancy and licensing accounted for 36% of turnover in 1997 compared with only 10% in 1996..."
"Sales outside the UK grew from 24% of turnover in 1996 to 41% in 1997."
"The Group's fully diluted shareholding [of ARM] as at 31 December 1997 was 34.4%"
"...all four corporate shareholders ... agreed to sell approximately 19% of their shareholding..."
"The Group's proceeds of sale, net of expenses, amounted to £16.7m before tax, and will be used to repay borrowings and to finance the growth of the core business."
"The Group retains 12,161,961 shares in ARM Holdings plc, representing 26.8% (24.5% fully diluted) of ARM's total equity."
"The market value of this investment is £70m at the flotation price of £5.75 per share."
"During 1998, your Board expects a further reduction in revenues compared with 1997, as the core business continues its transition from product supplier to technology provider."
"...a better gross profit is expected as a result of the improving mix of activities..."
"...the planned increase in development expenditure is likely to delay any significant reduction in operating losses..."
"...potential for revenue growth and profit in 1999 and beyond..."
"...our chosen markets of digital interactive TV and information appliances..."
"There are signs that this market [DiTV] is at last starting to develop and that some trials may proceed to commercial roll-out by the end of 1998."
"...joint development activities with NCI are no longer continuing..."
"The Digital Semiconductor SA1500/1501 chipset which we helped to design..."
"Our Software division has also developed or is developing software components such as MPEG decoding, graphics libraries, software modem, OS kernel and browser..."
"We have now chosen to make our software portfolio available across a broader range of hardware and software platforms."
"In future, we shall be adopting an approach which allows Acorn software components to be integrated with other selected operating systems and on other processors."
"We continued to market a range of RISC OS based, ARM-powered desktop personal computers via three distribution channels: (i) to UK schools through Xemplar, (ii) to a niche consumer market through the Acorn dealer network, and (iii) to specific vertical market customers through OEMs."
"The success of the desktop computer business hinges on the successful launch and take-up of this product [Phoebe]."
"The other major initiative ... in 1998 is a joint marketing program with Xemplar to promote the sale of NCs into the education market..."
Source: Acorn