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ZYCAD ANNOUNCES THIRD QUARTER PROFIT FOR THE PERIOD ENDED SEPTEMBER 30, 1992

 ZYCAD ANNOUNCES THIRD QUARTER PROFIT
 FOR THE PERIOD ENDED SEPTEMBER 30, 1992
 FREMONT, Calif., Oct. 22 /PRNewswire/ -- Zycad Corp.(R) (NASDAQ: ZCAD) today reported a net income of $150,000, or one cent per share, on revenues of $11,953,000 for the third quarter ended Sept. 30, 1992. For the comparable period ended Sept. 30, 1991, the company reported net income of $1,049,000, or 6 cents per share, on revenues of $10,629,000.
 For the nine-month period ended Sept. 30, 1992, the net income amounted to $1,945,000 or 11 cents per share, on revenues of $35,150,000 compared to net income of $2,190,000 or 13 cents per share, on revenues of $28,428,000 for the comparable period in 1991. The net income for the nine-month period ended Sept. 30, 1992, included $633,000, or 3 cents per share related to the gain on the disposition of 146,591 shares of Synopsys Inc. common stock.
 Phillips W. Smith, president and chief executive officer of Zycad stated, "While both our revenues and operating results are short of our earlier expectations, we are reasonably satisfied with these results, particularly in view of the difficult worldwide economic environment in which we have been operating over the last several months." Smith further added, "Weakness in capital spending in both the domestic and international markets contributed to lower than expected product revenue. Our service revenues, both consulting services and maintenance, met our growth expectations; and our cost containment actions resulted in no cost growth over the prior quarter."
 NOTE: Zycad Corp. provides solutions that increase product quality and engineering productivity, while shortening product development cycles. Zycad acceleration and service customers design electronic products ranging from single ASICs (Application Specific Integrated Circuits) to complex electronic systems. The Product Division, in Fremont, is the leader in design, development and marketing of logic and fault simulation acceleration products. Protocol(TM), the Services Division in Mt. Olive, N.J., was the first independent group to provide engineering and consulting services to the EDA marketplace. Zycad has offices worldwide and is traded on the OTC under the symbol ZCAD.
 ZYCAD CORP.
 CONDENSED CONSOLIDATED STATEMENTS OF INCOME
 (In thousands, except for per-share data)
 (unaudited)
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1992 1991 1992 1991
 Revenues:
 Product $7,207 $7,167 $23,653 $17,837
 Service 4,746 3,462 11,497 10,591
 Total revenues 11,953 10,629 35,150 28,428
 Cost of revenues:
 Product 1,569 1,377 4,815 3,936
 Service 2,517 1,674 6,298 4,715
 Total cost of revenues 4,086 3,051 11,113 8,651
 Gross profit 7,867 7,578 24,037 19,777
 Operating expenses:
 Sales and marketing 5,369 4,302 15,052 11,815
 Research and development 1,879 1,657 6,283 4,343
 General and administrative 610 702 1,849 1,966
 Total operating
 expenses 7,858 6,661 23,184 18,124
 Operating income 9 917 853 1,653
 Other income, net 141 132 1,092 537
 Net income $ 150 $1,049 $ 1,945 $2,190
 Net income per share $ 0.01 $ 0.06 $ 0.11 $ 0.13
 Average common and common
 equivalent shares 17,798 17,677 18,393 17,172
 ZYCAD CORP.
 CONDENSED CONSOLIDATED BALANCE SHEETS
 (in thousands)
 Sept. 30, 1992 Dec. 31, 1991
 (unaudited)
 ASSETS
 Current assets:
 Cash and cash equivalents $ 8,310 $14,815
 Short-term investments 321 640
 Accounts receivable, net 15,622 12,228
 Inventories 1,086 895
 Other current assets 1,434 683
 Total current assets 26,773 29,261
 Property and equipment, net 6,466 4,885
 Other assets 2,654 1,774
 Total assets $35,893 $35,920
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Current liabilities:
 Current portion of debt
 obligations $ 741 $ 833
 Accounts payable 1,780 1,454
 Accrued expenses 4,060 4,993
 Income tax payable --- 144
 Deferred revenues 2,849 2,135
 Total current liabilities 9,430 9,559
 Other long-term liabilities 618 1,095
 Total liabilities 10,048 10,654
 Stockholders' equity:
 Common stock,
 $0.10 cents par value 1,614 1,564
 Additional paid-in capital 42,263 41,671
 Treasury stock (2,086) ---
 Accumulated deficit (16,069) (18,014)
 Accumulated translation
 adjustments 123 45
 Total stockholders' equity 25,845 25,266
 Total liabilities and
 stockholders' equity $35,893 $35,920
 -0- 10/22/92 R
 /CONTACT: Peter J. Cassidy, executive vice president operations and chief financial officer of Zycad, 510-623-4400/
 (ZCAD) CO: Zycad Corp. ST: California IN: CPR SU: ERN


ML-TM -- SJ002 -- 3976 10/23/92 07:51 EDT
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