But as Apple represents roughly half of Imagination Technologies' revenue, this is going to affect its bottom line.
A majority of Phoenix Technologies' revenue still comes from designing, developing, and supporting core system software such as SecureCore Tiano, SecureCore, and Embedded BIOS for computing devices.
A report by McKinsey, a management consultancy, estimates that India's information-technology revenues will be $87 billion by 2008, and the industry will employ 2.2m people and export products worth $50 billion.
Mark Prisloe, an economist with the State Department of Economic and Community Development, said information technology revenues are expected to rise from $108 million in 1998 to $1.14 billion in 2003, when the industry will account for 2.5percentt of the state's overall business sales.
Without them, the bank reckons that the technology revenues of these companies would have been $43 billion lower in 2000 or 10% below the published figures.These results suggest that, once it picks up again, worldwide IT spending will again grow at about 10%, as it did before the bubble.
It reported service and technology revenues of $61 million, which was up 18percentt from a year ago.
Since the implosion of financial powerhouses Lehman Brothers and AIG, Forrester Research has been loud in warning that the coming recession would slow information-technology revenues as quickly as the final months of 2008 and that cutbacks and disappearing customers would be problems lasting well into the first half of 2009.
Systems and technology revenue tumbled 17 percent.
Technology revenue growth, for instance, is expected to slow to 7 percent this year from 12 percent in 2011.
It said that service and technology revenue increased to $58.1 million, from about $55 million.
Subscription and technology revenue, excluding hardware sales, fell 11percentto to $51.7 million.
