Product category:
Design and Development Software
News Release from: Synplicity
Edited by the Electronicstalk Editorial
Team on 29 October 2003
Stronger quarter for Synplicity
Synplicity has published its financial results for the quarter ended 30th September 2003.
Synplicity has published its financial results for the quarter ended 30th September 2003 Revenue for the quarter ended 30th September 2003 was $12.5 million, a 6% increase from revenue of $11.8 million for the quarter ended 30th September 2002 and a 3% increase from revenue of $12.2 million for the quarter ended 30th June 2003
This article was originally published on Electronicstalk on 16 Apr 2008 at 8.00am (UK)
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On a generally accepted accounting principles (GAAP) basis, net income was $409,000, or $0.02 per diluted share, for the quarter ended 30th September 2003, which included amortisation of intangible assets from acquisitions of $223,000 and stock-based compensation expense of $98,000.
For the quarter ended 30th September 2002, GAAP net loss was $1.7 million, or $0.07 per diluted share, which included amortisation of intangible assets of $130,000, stock-based compensation expense of $144,000 and acquired in-process research and development of $1.7 million.
For the quarter ended 30th June 2003, GAAP net loss was $599,000, or $0.02 per diluted share, which included amortisation of intangible assets from acquisitions of $223,000 and stock-based compensation expense of $130,000.
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Pro forma net income was $730,000, or $0.03 per diluted share, for the quarter ended 30th September 2003, compared with pro forma net income of $266,000, or $0.01 per diluted share, for the quarter ended 30th September 2002 and pro forma net loss of $246,000, or $0.01 per diluted share, for the quarter ended 30th June 2003.
Pro forma figures exclude the impact of amortisation of intangible assets, stock-based compensation expense and acquired in-process research and development.
For the nine months ended 30th September 2003, revenue was $36.3 million, an 8% increase from revenue of $33.8 million for the nine months ended 30th September 2002.
For the nine months ended 30th September 2003, Synplicity had a GAAP net loss of $822,000, or $0.03 per diluted share, compared with net loss of $1.7 million, or $0.07 per diluted share, for the nine months ended 30th September 2002.
Pro forma net income was $209,000, or $0.01 per diluted share, for the nine months ended 30th September 2003, compared with pro forma net income of $684,000, or $0.03 per diluted share, for the nine months ended 30th September 2002.
Pro forma figures exclude the impact of amortisation of intangible assets, stock-based compensation expense and acquired in-process research and development.
"This was a strong quarter financially for Synplicity as we reported pro forma net income of $0.03 per share", said Bernard Aronson, President and CEO of Synplicity.
"Additionally, we experienced growth in FPGA and ASIC product bookings, total revenue and pro forma net income both sequentially and year over year".
"We continued to make significant progress toward our objective of becoming the primary implementation tool supplier for the emerging structured ASIC market.
We have now delivered our customised physical synthesis product to LSI Logic for their RapidChip platform ASIC architecture, and we have begun work on a joint development project with NEC Electronics to customise our physical synthesis product for their ISSP structured ASIC architecture", Aronson concluded.
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