Bourgoin intends to retire at the end of the calendar year, according to MIPS. The company plans to begin a search for a successor, which is expected to take three to six months.

Bourgoin will remain president and CEO through the end of the calendar year unless his successor is appointed earlier.

Bourgoin has been CEO of MIPS, since 1998, and president since 1996. He led MIPS through its IPO in 1998, through its transition into a pure-play IP provider.

"Now that we have completed the divestiture of our Analog Business Group and bolstered our balance sheet to a strong position despite the challenging economy, it is a good time for me to step down,'' said Bourgoin in a statement. ''I am giving ample notice so the board can complete a thorough search, and we can have a smooth transition."

MIPS, which bought in August, 2007 Chipidea, a Portuguese analog and mixed-signal IP company, recently divested its analog business group to Synopsys Inc. in an all-cash transaction for $22 million.

Revenue for the third quarter was $22.7 million, a 14 percent decline compared with the prior quarter revenue of $26.4 million and a 17 percent decline from the $27.3 million reported in the third fiscal quarter a year ago.

The company's fiscal Q3 2009 GAAP net loss was $0.8 million or minus $0.02 per share on a diluted basis. This compares with a net income of $5.0 million or $0.11 per basic and diluted share in the prior quarter and a net loss of $4.3 million or minus $0.10 per share in the third quarter a year ago.