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Imagination Tech sees licensing at about last year's level

Reuters - UK Focus

LONDON, March 18 (Reuters) - Imagination Technologies (Other OTC: IGNMF - news) , the company that provides graphics technology to Apple (NasdaqGS: AAPL - news) , said licensing activity had been a "little muted" since November, although its pipeline remained good and it saw its outcome in licensing at least the same as last year.

"We currently expect licensing revenue to be close to last year's level with the potential of single digit growth dependent on exact closure timing of the remaining deals," the company said.

Imagination said it was confident its progress would continue, and it expected it partners to ship more than 1.3 billion chips based on its technology in this financial year. (Reporting by Paul Sandle; editing by Sarah Young)