(Telecompaper) ARM Holdings reported first-quarter revenues up 22 percent to GBP 227.5 million. In dollars, the figure rose 14 percent to USD 348.2 million, with 31 percent growth in royalty revenue offsetting a 2 percent fall in licensing revenue. The group added 30 new processor licences in the quarter, and shipments of products based on its licences rose 31 percent year-on-year. The chip designer increased its adjusted operating margin to 51.7 percent from 50.4 percent a year ago, and pretax profit rose by a third to GBP 103.4 million. Earnings per share were up 36 percent to 6.0 pence, and ARM generated GBP 68.5 million in cash in the quarter, compared to GBP 40.1 million a year earlier. ARM said it had an encouraging start to 2015 and expects group dollar revenues for the full-year 2015 to be at least in line with current market expectations. For Q2, the market is expected to show a seasonal slowdown.