Cooper & Chyan Technology Inc. reports record operating results.CUPERTINO Cu·per·ti·no A city of western California west of San Jose. It has an electronics industry. Population: 50,000. , Calif.--(BUSINESS WIRE)--Jan. 29, 1996--Cooper & Chyan Technology Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CCTI CCTI Climate Change Technology Initiative CCTI Composite Can Tube Institute CCTI Chairman of the Joint Chiefs of Staff commended training issue (US DoD) CCTI Control Center Technology Interchange CCTI Chief's Call To Initiation ) today reported record revenues and profits for its fourth fiscal quarter and record revenues for its year ended Dec. 31, 1995. For the year, sales increased 64 percent to $17.7 million as compared with $10.8 million in the prior year. Net income increased 171 percent to $975,000, or 8 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , from $359,000, or 3 cents per share, in 1994 on 11 percent more common shares outstanding. Fourth quarter 1995 sales increased 71 percent to $6.0 million as compared with sales of $3.5 million in the same period last year. Net income increased significantly to $641,899, or 5 cents per share, on 14 percent more common shares outstanding, as compared with $34,000 in the fourth quarter of 1994. "It was truly a landmark A structure that has significant historical, architectural, or cultural meaning and that has been given legal protection from alteration and destruction. Although landmark preservation laws vary by city and state, they have the same basic purpose: to keep landmarks as close year for the company. We completed our initial public offering, introduced our IC Craftsman(TM) product line, and began our `CCT CCT Circuit CCT Commission Canadienne du Tourisme (Canadian Tourism Commission) CCT Correlated Color Temperature CCT Common Customs Tariff (EU) CCT Certificate of Completion of Training Installed' program to help us gain market share in the personal computer PCB PCB: see polychlorinated biphenyl. PCB in full polychlorinated biphenyl Any of a class of highly stable organic compounds prepared by the reaction of chlorine with biphenyl, a two-ring compound. CAD CAD: see computer-aided design. (Computer-Aided Design) Using computers to design products. CAD systems are high-speed workstations or desktop computers with CAD software. market," said Jack Harding Jack Harding was the head coach of the Miami Hurricanes football program from 1937 to 1942, and 1945 to 1947. During his tenures, he compiled a 54-32 (.624) record. He led the Hurricanes to four seasons of 8 or more wins (1938, 1941, 1945, 1946). , president and chief executive officer. "The continued market acceptance of our IC product line by major integrated circuit integrated circuit (IC), electronic circuit built on a semiconductor substrate, usually one of single-crystal silicon. The circuit, often called a chip, is packaged in a hermetically sealed case or a nonhermetic plastic capsule, with leads extending from it for manufacturers and growth of our SPECCTRA(R) line of PCB products were the keys to our record fourth quarter operating results." Cooper & Chyan Technology Inc. develops, markets and supports place and route software which enables the development of high performance integrated circuits Integrated circuits Miniature electronic circuits produced within and upon a single semiconductor crystal, usually silicon. Integrated circuits range in complexity from simple logic circuits and amplifiers, about 1/20 in. (1. and printed circuit boards. The company, which commenced trading on the NASDAQ National Market on Oct. 31, 1995, is headquartered in Cupertino, and has operations in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe Europe (y  r`əp), 6th largest continent, c.4,000,000 sq mi (10,360,000 sq km) including adjacent islands (1992 est. pop. 512,000,000). , and Japan. -0-
Cooper & Chyan Technology Inc.
Condensed, Consolidated Statements of Income
Quarter ended Year ended
Dec. 31, Dec. 31,
1995 1994 1995 1994
Revenue License $4,672,939 $3,130,337 $14,703,948 $9,348,377 Service/other 1,324,125 409,879 3,014,125 1,483,879 Total revenue 5,997,064 3,540,216 17,718,073 10,832,256 Costs and expenses Cost of license revenue 321,724 204,296 739,604 545,296 Cost of service/ other revenue 76,150 49,704 269,999 164,704 Research and development 1,307,900 1,098,840 4,729,870 4,260,759 Sales and marketing 2,662,225 1,599,308 8,349,183 3,843,991 General and administrative 845,981 388,559 2,354,037 948,068 Write-offs related to investee company -- 150,000 -- 434,490 Total costs and expenses 5,213,980 3,490,707 16,442,693 10,197,308 Income from operations 783,083 49,509 1,275,379 634,948 Interest/other income (net) 125,816 3,993 173,041 5,387 Equity in losses of investee company -- -- -- (87,100) Income before provision for income taxes 908,899 53,502 1,448,420 553,235 Provision for income taxes 267,000 18,632 472,987 193,632 Net income $ 641,899 $ 34,870 $ 975,433 $ 359,603 Net income per share 5 cents $0.00 8 cents 3 cents Shares used in computing per share amounts 12,961,016 11,331,000 11,854,135 10,632,543
Cooper and Chyan Technology Inc.
Condensed, Consolidated Balance Sheet
Dec. 31,
1995 1994
Assets
Current Assets
Cash and cash equivalents $26,402,413 $1,565,330
Accounts receivable 4,360,639 3,173,761
Income taxes receivable - 99,130
Deferred income taxes 373,525 -
Prepaid expenses and other
current assets 994,152 151,603
Total current assets 32,130,729 4,989,824
Property, plant and equipment net 2,552,413 1,539,790
Other assets 291,093 100,741
34,974,235 6,630,355
Liabilities and stockholders' equity
Current liabilities:
Borrowings under bank credit
facility - 500,000
Trade accounts payable 787,686 28,980
Accrued liabilities 2,473,178 1,092,647
Income taxes payable 142,185 -
Deferred revenue 2,601,492 2,263,042
Deferred income taxes - 59,937
Total current liabilities 6,004,541 3,944,606 Deferred income taxes 238,851 42,886
Stockholders' equity
Convertible preferred stock - 185,000
Common stock 120,429 104,116
Additional paid in capital 25,727,869 -
Notes receivable from
stockholders (39,010) -
Deferred compensation (404,626) -
Retained earnings 3,326,181 2,353,747
Total stockholders' equity 28,730,843 2,642,863
34,974,235 6,630,355
CONTACT: Cooper & Chyan Technology Inc., Cupertino Robert Robert, Henry Martyn 1837-1923. American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876). Noun 1. D. Selvi Selvi was a Tamil drama serial aired on India's Sun TV (India) Network. It is produced by Radaan Mediaworks (I) Limited, as the successor to its two previous hit serials, "Chitti" and "Annamalai". , 408/342-5581 |
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