Artisan Components, Inc. Reports Second Quarter Fiscal Year 2000 Operating Results.[I *inbox An area in memory or on disk that holds received messages that have not been read or processed. Contrast with outbox. @reviewsonline.com ] Business Editors SUNNYVALE Sunnyvale, city (1990 pop. 117,229), Santa Clara co., W Calif., near San Francisco; settled 1849, inc. 1912. A city in Silicon Valley, its many manufactures include semiconductors; machinery and instruments; electrical, electronic, and aerospace products; , Calif.--(BUSINESS WIRE)--April 19, 2000 Artisan Components, Inc., (Nasdaq:ARTI) today reported revenue and earnings for the fiscal quarter and six months ended March 31, 2000. Second quarter fiscal 2000 revenue increased 85% to $5.4 million as compared with $2.9 million in the same period last year. Net income for the second fiscal quarter was $418,000, or $0.03 per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share, as compared to a net loss of $710,000, or ($0.05) per diluted share in the same period last year. Gross royalty for the second quarter was $1.2 million, of which $783,000 was reported as net royalty revenue. For the first six months of fiscal 2000, revenue totaled $10.4 million as compared with $5.9 million in the same period last year, an increase of 76%. Net income of $710,000, or $0.05 per diluted share, was recorded for the first six months of fiscal 2000, as compared with a net loss of $1.4 million, or ($0.10) per diluted share, for the first six months of fiscal 1999. Gross royalty for the first six months of fiscal 2000 was $2.2 million, with net royalties of $1.4 million reported as royalty revenue. "During the quarter, we added 100 new product licensees to our customer base," said Mark Templeton Mark Templeton (b. 1975) is Principal Trombone of the London Philharmonic Orchestra. Mark studied at the Guildhall School of Music and Drama 1994-1998 with Eric Crees, Simon Wills and Peter Gane. During this time he became principal of the Gustav Mahler Youth Orchestra. , president and chief executive officer. "Many of these new users are industry leaders such as Ericsson Microelectronics microelectronics, branch of electronic technology devoted to the design and development of extremely small electronic devices that consume very little electric power. , Extreme Networks, Inc., Galileo Technology, Inc., Hitachi, Ltd., Silicon Laboratories Inc. and Winbond Electronics Corporation. We also delivered products to many manufacturers including Chartered Semiconductor Manufacturing Chartered Semiconductor Manufacturing SGX: C27 NASDAQ: CHRT (abbreviated CSM) is the world's fourth largest dedicated independent semiconductor foundry, with its headquarters and main operations located in the Woodlands Industrial Park, Kranji Singapore. , Infineon Technologies For the raceway, see . Infineon Technologies AG (ISIN: DE0006231004, FWB: IFX, NYSE: IFX) was founded in April 1999 when the semiconductor operations of parent company, Siemens AG, were spun off to form a separate legal entity. AG, NEC (NEC Corporation, Tokyo, www.nec.com, www.necus.com) An electronics conglomerate known in the U.S. for its monitors. In Japan, it had the lion's share of the PC market until the late 1990s (see PC 98). NEC was founded in Tokyo in 1899 as Nippon Electric Company, Ltd. Corporation, Sharp Corporation, TSMC TSMC Taiwan Semiconductor Manufacturing Company, Ltd TSMC Taiwan Semiconductor Manufacturing Corporation TSMC Traffic Systems Management Center TSMC Toll Station Management Controller TSMC Transportation Supply Maintenance Command TSMC Technical Services Manager Code and UMC UMC United Methodist Church UMC United Microelectronics Corporation UMC University Medical Center UMC United Microelectronics Corp (Republic of China) UMC University of Missouri-Columbia . In addition, we added 13 new companies to our partner programs including Advanced Research Corporation(R) (ARC), Advanced RISC Machines (processor) Advanced RISC Machine - (ARM, Originally Acorn RISC Machine). A series of low-cost, power-efficient 32-bit RISC microprocessors for embedded control, computing, digital signal processing, games, consumer multimedia and portable applications. Limited (ARM), Numerical Technologies Numerical Technologies, Inc. was a San Jose, California, USA based EDA public (NASDAQ: NMTC) company, previously knowns as Transcription Enterprizes. On March 3, 2003 it was acquired by Synopsys. , Inc. and others. Nearly 60 new designs were completed with our products and we expect many of these to begin production ramps over the next several quarters." "Our mission now is to translate our dominant market position into long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. revenue and business growth. To meet these objectives, we continue to increase our investment in product promotion, licensing and support as well as in new product research and development. We believe that our investments today are necessary to maximize the growth of future royalties." Artisan will replay its earnings conference call beginning at 6 p.m. EST P.M. also p.m. or p.m. abbr. post meridiem Usage Note: By definition, 12 a.m. today through midnight on April 26, 2000. Interested parties may access the replay at 719/457-0820. The conference code is 450323. This press release contains projections and other forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. regarding future events or the future financial performance of the Company. Such statements are just predictions and actual events or results may differ materially. Many important factors could cause the actual results to differ materially from those contained in such projections or forward-looking statements, including but not limited to the risks that the Company's products will fail to achieve market acceptance, the timing of customer orders, delays in the design process due to changes in customer orders after they are placed, the Company's ability to achieve progress on percentage of completion contracts, the length of the Company's sales cycle, the Company's ability to develop, introduce and market new products and product enhancements, the timing of new product announcements and introductions by the Company and its competitors, the demand for semiconductors and end-user products that incorporate semiconductors, general economic conditions particularly in the markets of Asia and Japan where a large portion of the Company's revenues are derived, and other risks. We refer you to the documents that the Company files from time to time with the Securities and Exchange Commission, in particular the section entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: "Risk Factors" in the Company's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and its quarterly reports on Forms 10-Q. About Artisan Components Founded in 1991, Artisan Components, Inc., (Nasdaq: ARTI) provides high-quality silicon intellectual property (IP) to the world's largest semiconductor manufacturers. The company's Process-Perfect(TM) products, including embedded Inserted into. See embedded system. memories, SAGE sage, any species of the large genus Salvia, aromatic herbs or shrubs of the family Labiatae (mint family). The common sage of herb gardens is S. officinalis, a strongly scented shrubby perennial, native from S Europe to Asia Minor. (TM) and SAGE-X(TM) standard cells and Integral(TM) I/Os, are tuned to each manufacturer's process. Semiconductor manufacturers, in turn, provide these products to their design customers so that they may achieve the full speed, density and low power potential of the semiconductor process. Artisan IP is designed to work with the most popular EDA (1) (Electronic Design Automation) Using the computer to design, lay out, verify and simulate the performance of electronic circuits on a chip or printed circuit board. tools in the industry including: Avant!, Cadence Design Systems (company) Cadence Design Systems - A company that sells electronic design automation software and services. http://cadence.com/. See also Verilog. , Synopsys and Mentor Graphics Mentor Graphics, Inc (NASDAQ: MENT) is a US-based multinational corporation dealing in electronic design automation (EDA) for electrical engineering and electronics, as of 2004, ranked third in the EDA industry it helped create. . Artisan Components is headquartered at 1195 Bordeaux Drive, Sunnyvale, CA 94089-1210. Phone: 408/734-5600. Fax: 408/734-5050. For additional information, visit Artisan on the Worldwide Web at http://www.artisan.com. Artisan is a registered trademark and Process Perfect, SAGE, SAGE-X and Integral are trademarks of Artisan Components, Inc. All other registered trademarks and trademarks belong to the respective owners.
Artisan Components, Inc.
Statement of Operations
(In thousands, except per share data)
Quarter Ended Six Months Ended
Mar. 31, Mar. 31, Mar. 31, Mar. 31,
2000 1999 2000 1999
(unaudited) (unaudited) (unaudited)(unaudited)
----------- ----------- ----------- ---------
Gross Revenue:
License $ 4,586 $ 2,904 $ 9,031 $ 5,940
Royalty 1,219 -- 2,165 --
-------- -------- -------- --------
Gross revenue 5,805 2,904 11,196 5,940
======== ======== ======== ========
Net Revenue:
License $ 4,586 $ 2,904 $ 9,031 $ 5,940
Net royalty 783 -- 1,399 --
-------- -------- -------- --------
Total revenue 5,369 2,904 10,430 5,940
Cost and expenses:
Engineering 2,949 2,602 6,045 4,937
Sales and
marketing 1,881 1,121 3,554 2,189
General and
administrative 607 529 1,147 1,365
-------- -------- -------- --------
Total cost
and expenses 5,437 4,252 10,746 8,491
-------- -------- -------- --------
Operating loss (68) (1,348) (316) (2,551)
Other income 692 388 1,376 843
-------- -------- -------- --------
Income (loss)
before
provision for
income taxes 624 (960) 1,060 (1,708)
Provision
(benefit) for
income taxes 206 (250) 350 (325)
-------- -------- -------- --------
Net income
(loss) $ 418 ($ 710) $ 710 ($ 1,383)
======== ======== ======== ========
Net income
(loss) per
share - diluted $ 0.03 ($ 0.05) $ 0.05 ($ 0.10)
======== ======== ======== ========
Shares used
in per
share calculation 15,746 13,485 15,527 13,433
======== ======== ======== ========
Artisan Components, Inc.
Balance Sheet
(In thousands)
Mar. 31,
2000
(unaudited)
------------
ASSETS
Current assets:
Cash, cash equivalents and
marketable securities $51,189
Contract receivables 7,826
Prepaid expenses and other
current assets 1,702
-------
Total current assets 60,717
Property and equipment, net 5,500
Other assets 568
-------
Total assets $66,785
=======
LIABILITIES AND
STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued
expenses $ 2,360
Deferred revenue 4,009
-------
Total current liabilities 6,369
Other liabilities 146
-------
Total liabilities 6,515
-------
Stockholders' Equity:
Common stock and additional
paid in capital 56,812
Retained earnings 3,458
-------
Total stockholders' equity 60,270
-------
Total liabilities and
stockholders' equity $66,785
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