Product category:
Design and Development Software
News Release from: Synplicity
Edited by the Electronicstalk Editorial
Team on 03 February 2004
Synplicity poised for growth
Synplicity has published financial results for the fiscal quarter and year ended 31st December 2003.
Synplicity has published financial results for the fiscal quarter and year ended 31st December 2003 Revenue for the quarter ended 31st December 2003 was $13.2 million, a 12% increase from revenue of $11.8 million for the quarter ended 31st December 2002 and a 5% increase from revenue of $12.5 million for the quarter ended 30th September 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 $445,000, or $0.02 per diluted share, for the quarter ended 31st December 2003, which included amortisation of intangible assets from acquisitions of $227,000 and stock-based compensation expense of $76,000.
For the quarter ended 31st December 2002, GAAP net loss was $1.6 million, or $0.06 per diluted share, which included amortisation of intangible assets of $192,000, stock-based compensation expense of $6,000 and acquired in-process research and development of $1.1 million.
For the quarter ended 30th September 2003, GAAP net income was $409,000, or $0.02 per diluted share, which included amortisation of intangible assets from acquisitions of $223,000 and stock-based compensation expense of $98,000.
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Pro forma net income was $748,000, or $0.03 per diluted share, for the quarter ended 31st December 2003, compared with pro forma net loss of $338,000, or $0.01 per diluted share, for the quarter ended 31st December 2002 and pro forma net income of $730,000, or $0.03 per diluted share, for the quarter ended 30th September 2003.
Pro forma figures for the quarters exclude the impact of amortisation of intangible assets, stock-based compensation expense and acquired in-process research and development.
For the year ended 31st December 2003, revenue was $49.6 million, a 9% increase from revenue of $45.6 million for the 12 months ended 31st December 2002.
For the 12 months ended 31st December 2003, Synplicity had a GAAP net loss of $377,000, or $0.01 per diluted share, compared with net loss of $3.3 million, or $0.13 per diluted share, for the 12 months ended 31st December 2002.
Pro forma net income was $957,000, or $0.04 per diluted share, for the 12 months ended 31st December 2003, compared with pro forma net income of $346,000, or $0.01 per diluted share, for the 12 months ended 31st December 2002.
Pro forma figures for the fiscal years exclude the impact of amortisation of intangible assets, stock-based compensation expense and acquired in-process research and development.
"Synplicity had a good fourth quarter which capped a solid financial year, including the highest quarterly revenue since inception, the highest net income in the last eleven quarters and positive cash flow from operations of nearly $6 million for the year", said Bernard Aronson, President and CEO of Synplicity.
"Fiscal 2003 was all about carefully managing expenses while we invested in our product lines to further advance our competitive position and take advantage of new market opportunities.
As we look to 2004, we expect our investment in our ASIC products and our participation in the emerging structured ASIC market will position us for strong ASIC product growth", Aronson concluded.
Revenue for the first quarter of 2004 is expected to range from $13.0 to $13.2 million.
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