Synplicity meets financial objectives

Synplicity has revealed its financial results for the quarter ended 30th June 2003.

Synplicity has revealed its financial results for the quarter ended 30th June 2003.

Revenue for the quarter ended 30th June 2003 was $12.2 million, a 9% increase from revenue of $11.2 million for the quarter ended 30th June 2002 and a 6% increase from revenue of $11.6 million for the quarter ended 31st March 2003.

On a generally accepted accounting principles (GAAP) basis, net loss was $599,000, or $0.02 per diluted share, for the quarter ended 30th June 2003, which included amortisation of intangible assets from acquisitions of $223,000 and stock-based compensation expense of $130,000.

For the quarter ended 30th June 2002, GAAP net loss was $63,000, or $0.00 per diluted share, which included stock-based compensation expense of $203,000.

For the quarter ended 31st March 2003, GAAP net loss was $632,000, or $0.02 per diluted share, which included amortisation of intangible assets from acquisitions of $218,000 and stock-based compensation expense of $139,000.

Pro forma net loss was $246,000, or $0.01 per diluted share, for the quarter ended 30th June 2003, compared with pro forma net income of $140,000, or $0.01 per diluted share, for the quarter ended 30th June 2002 and pro forma net loss of $275,000, or $0.01 per diluted share, for the quarter ended 31st March 2003.

Pro forma figures exclude the impact of amortisation of intangible assets and stock-based compensation expense.

A reconciliation of GAAP to pro forma earnings is included with this press release.

For the six months ended 30th June 2003, revenue was $23.8 million, an 8% increase from revenue of $22.0 million for the six months ended 30th June 2002.

For the six months ended 30th June 2003, Synplicity had a GAAP net loss of $1.2 million, or $0.05 per diluted share, compared with net income of $26,000, or $0.00 per diluted share, for the six months ended 30th June 2002.

Pro forma net loss was $521,000, or $0.02 per diluted share, for the six months ended 30th June 2003, compared with pro forma net income of $418,000, or $0.02 per diluted share, for the six months ended 30th June 2002.

"I am pleased that we have met our financial objectives for the quarter", said Bernard Aronson, President and CEO of Synplicity.

"Compared with the first quarter of 2003, we grew our FPGA product bookings and we had our strongest bookings quarter for our ASIC synthesis products, nearly doubling over the first quarter of 2003.

We released our physical synthesis product, Amplify ASIC Physical Optimizer and shipped our first customer order for it".

"Additionally, we continued to make significant progress toward our objective of becoming the primary implementation tool supplier for the emerging structured ASIC market.

Our work with LSI Logic is on track for a product delivery during our third quarter, and we are working toward expanding our development program with NEC Electronics", Aronson concluded.

Back to top