Financial highlights
Normalised figures quoted below for operating margin, profit from operations and EPS are non-GAAP measures. For reconciliations of IFRS GAAP measures to normalised non-GAAP measures, see page 12.
Revenue $m
Royalty 
Licensing 
Other
ARM’s revenue growth is sustained by our customers incorporating ARM technology in more of their product lines.
Profit from operations £m
Profit under IFRS Normalised profit
Growing revenues and continued financial discipline drive ARM’s profitability.
Free cash flow* £m
Regular licences and robust royalties deliver a reliable cash flow.
Operating margin %
Operating margin under IFRS Normalised operating
ARM’s financial discipline balances long-term R&D investment with cost control to improve operating margins over time.
Earnings per share p
Diluted EPS under IFRS Normalised Diluted EPS
In 2008, on top of increasing profitability, the strengthening of the dollar vs sterling assisted EPS growth.
Cumulative cash returned £m
Dividend Share buybacks
Reliable cash generation allows dividend growth.
* Free cash flow is defined as movement on cash, cash equivalents, marketable securities and short-term investments, adding back share buybacks, dividend payments, investment and acquisition consideration, and deducting inflows from share option exercises and proceeds from investment disposals.
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