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ZYCAD ANNOUNCES FIRST QUARTER 1993 RESULTS

 FREMONT, Calif. April 30 /PRNewswire/ -- Zycad Corp.(R) (NASDAQ: ZCAD) today reported net income of $10,143, on revenues of $10,112,000 for the quarter ended March 31, 1993. These results included a gain of $901,000, or six cents per share from the sale of 25,000 shares of Synopsys Inc. common stock. For the comparable period ended March 31, 1992, the company's revenues were $10,607,000 and the net income was $1,112,000, or six cents per share, which included a gain of $634,000, or three cents per share from the disposition of 146,591 shares of Synopsys Inc. common stock.
 President and Chief Executive Officer Phillips W. Smith stated, "The decline in revenues in this year's first quarter compared to 1992 is primarily due to lower revenues from Japan, resulting from the continuing economic pressures in that marketplace. This reduction in the higher margin product revenues was partially offset by increases in both contract service and maintenance revenue." Smith added, "The company's revenues, which over the last two quarters have been at the $10 million level, have included fewer high dollar product transactions, as customers have tightened their capital spending budgets. We expect this trend to continue through the second quarter."
 Smith further commented, "The company's total costs and expenses, excluding restructuring costs, were reduced by approximately $3 million from the fourth quarter to first quarter primarily as a result of the January staff reductions, reduced cost of products, and ongoing focus on expense control. Emphasis on spending control will continue while we work diligently to increase customer demand for our XP accelerator products."
 Zycad Corp. is dedicated to providing solutions which help customers solve complex design and system integration problems. These solutions increase product quality and engineering productivity, while decreasing product development cycles. Users gain a competitive advantage in terms of product quality and speed-to-market, which can translate to greater profitability. Zycad markets its solutions worldwide through direct and indirect sales channels.
 NOTE: Zycad Corp. is a registered trademark of Zycad Corp.
 ZYCAD CORP.
 Condensed Consolidated Balance Sheets
 (In thousands)
 March 31, Dec. 31,
 1993 1992
 (unaudited)
 ASSETS
 Current assets:
 Cash and cash equivalents $ 6,032 $ 6,627
 Short-term investments 329 422
 Accounts receivable, net 9,825 11,390
 Inventories 997 1,187
 Other current assets 1,265 1,073
 Total current assets 18,448 20,699
 Property and equipment, net 6,603 6,662
 Other assets 3,837 3,552
 Total assets $28,888 $30,913
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Current Liabilities:
 Current portion of debt obligations $ 529 $ 578
 Accounts payable 1,685 2,021
 Accrued expenses 3,355 5,140
 Deferred revenues 2,244 2,131
 Total current liabilities 7,813 9,870
 Other long-term liabilities 320 327
 Non-current portion of debt obligations 180 309
 Total liabilities 8,313 10,506
 Stockholders' equity:
 Common stock, par value 10 cents 1,635 1,627
 Additional paid-in capital 42,542 42,418
 Accumulated deficit (20,802) (20,812)
 Treasury stock (778,000 shares) (2,666) (2,666)
 Accumulated translation adjustments (134) (160)
 Total stockholders' equity 20,575 20,407
 Total liabilities and stockholders'
 equity $28,888 $30,913
 Condensed Consolidated Statements of Operations
 (Unaudited, in thousands, except per-share data)
 Three Months
 Ended March 31: 1993 1992
 Revenues:
 Product $ 5,234 $ 7,306
 Service 4,878 3,301
 Total Revenues 10,112 10,607
 Cost of revenues:
 Product 1,128 1,394
 Service 2,868 1,674
 Total cost of revenues 3,996 3,068
 Gross profit 6,116 7,539
 Operating expenses:
 Sales and marketing 4,767 4,567
 Research and development 1,756 1,953
 General and administrative 540 629
 Total operating expenses 7,063 7,149
 Operating income (947) 390
 Other income (expense):
 Interest income 55 177
 Interest expense (27) (89)
 Other 929 634
 Other income, net 957 722
 Net income $ 10 $ 1,112
 Net income per share $ --- $ 0.06
 Average common and common
 equivalent shares outstanding 15,536 18,536
 -0- 4/30/93
 /CONTACT: Peter J. Cassidy, executive vice president of operations and chief financial officer of Zycad, 510-623-4400/
 (ZCAD)


CO: Zycad Corp. ST: California IN: CPR SU: ERN

GT-TM -- SJ002 -- 3454 04/30/93 17:44 EDT
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Date:Apr 30, 1993
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