Arc feels the bite

NEWS Processor designer Arc has reported a £11.2m loss in its third quarter results - double the amount in the same period last year. The company's revenues also took dive, falling from £3.2m in Q2 2000 to £2.02m in Q3 2001. Arc CFO Simon Poulton blamed falling demand in critical areas such as wireless, digital camera and set-top boxes for the disappointing results. Although the company's share price gained more than 6.3 per cent during morning trading, over the last year it has lost almost 90 per cent of its value.