Motorola deal gives Parthus hope

Parthus Technologies expects to break even next year after securing a major deal with Motorola.

Parthus posted a third-quarter net loss of $18.4m (or £12.7m), widening from $2.8m (£1.9m) last year.

Total revenue increased by 22% to $10.5m (£7.3m), from $8.5m (£5.9m).

Elaine Coughlan, chief financial officer at Dublin-based Parthus, says the figures are strong indicators of progress towards a return to profitability.

She adds: "We believe we are on track to achieve breakeven in mid-2002."

Parthus, which develops microchips for the mobile phone market, says it has secured a lucrative deal with Motorola.

The companies will develop power management chips for high-volume wireless products.

Parthus signed 20 licensing and royalty agreements in the first nine months of the year.

Company president Kevin Fielding says: "Customer demand for our technology remains firm, demonstrated by our ability to continue to sign licence deals."