Product category:
Microprocessors, Microcontrollers and DSPs
News Release from: Virage Logic
Edited by the Electronicstalk Editorial
Team on 27 January 2006
Strategy begins to pay off for Virage
Logic
Virage Logic Corp has reported its financial results for the first fiscal quarter ended 31st December 2005.
Virage Logic Corp has reported its financial results for the first fiscal quarter ended 31st December 2005 Revenues for the first quarter of fiscal 2006 were $13.7 million, compared with $15.9 million for the first quarter of fiscal 2005 and $12.8 million for the fourth quarter of fiscal 2005
This article was originally published on Electronicstalk on 22 Oct 2002 at 8.00am (UK)
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Licence revenue for the first quarter of fiscal 2006 was $10.4 million, compared with $13.1 million for the same period a year ago and $10.0 million for the prior quarter.
Royalties for the first quarter of fiscal 2006 were $3.3 million, compared with $2.8 million for the first quarter of fiscal 2005 and $2.8 million for the fourth quarter of fiscal 2005.
As reported under US generally accepted accounting principles (GAAP), net loss for the first quarter of fiscal 2006 was $242,000, or $0.01 per share, compared with net income of $1.7 million, or $0.08 per share for the first quarter of fiscal 2005 and net income of $232,000 or $0.01 per share for the fourth quarter of fiscal 2005.
Net loss for the first quarter of fiscal 2006 included $1.9 million of stock-based compensation expense.
Without the adoption of FAS123R, the company would have reported a net loss of $95,000 or $0.00 per share.
"We believe that our strategy of capturing both 90- and 65-nanometre designs during this current upturn in the semiconductor industry is beginning to pay off as royalty revenues begin to ramp", said Adam Kablanian, Virage Logic's President and Chief Executive Officer.
"At these advanced process nodes, our products hold a commanding technological lead over our competitors and offer customers key yield improvements and time-to-market advantages in implementing designs that utilise Virage Logic's semiconductor intellectual property".
Virage Logic also announced today its business outlook for the second quarter of fiscal 2006.
The company currently expects total revenues of approximately $14.5 million to $15.0 million.
Expected total revenues for the quarter include royalties of approximately $4.0 million to $4.5 million.
The company expects to report a GAAP net loss of approximately $0.00 to $0.01 per share for the three months ending 31st March 2006.
The company expects $1.8 million of stock-based compensation expense for the second quarter ending 31st March 2006.
Without the adoption of FAS123R, the company would expect earnings per diluted share of $0.02 to $0.04.
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