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23 February, 2006 - 10:09 By Staff Reporter

Arc revenue sinks

Unsatisfactory was the verdict of Herts-based Arc International’s board when it delivered its results for the year ended 31 December 2005, which saw a 14 per cent decline in revenue, down to £10.5m (2004: £12.2m).Unsatisfactory was the verdict of Herts-based Arc International’s board when it delivered its results for the year ended 31 December 2005, which saw a 14 per cent decline in revenue, down to £10.5m (2004: £12.2m).

The superchip designer will reduce staff numbers by seven per cent – approximately 10 from 130 - on the back of the results. Arc has said reductions will come from across all its sectors, but would not be drawn on whether the majority of these would be from Hertfordshire or its Silicon Valley base in the US.

Though net loss improved to £4.3m from £5.1m for the superchip designer and year-end 2005 contractual backlog grew to £1.3m from £0.2m, Carl Schlachte, Arc’s president and CEO, said: “While there are promising indicators of ARC’s progress, the board is not satisfied with the 2005 financial results.”

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