Nassda grows for eleventh consecutive quarter

A Nassda Corp product story

Edited by the Electronicstalk editorial team Jul 18, 2002

Nassda Corp has reported its financial results for the quarter ended 30th June 2002, the third quarter of Nassda's fiscal 2002.

Nassda Corp has reported its financial results for the quarter ended 30th June 2002, the third quarter of Nassda's fiscal 2002.

Revenue for the quarter ended 30th June 2002 was $8.9 million, a 47% increase from $6.1 million for the quarter ended 30th June 2001 and an 11% increase from $8.0 million for the quarter ended 31st March 2002.

Net income for the quarter ended 30th June 2002 was $1.8 million, or $0.06 per diluted share, up 141% from $758,000, or $0.03 per diluted share, for the quarter ended 30th June 2001 and up 31% from $1.4 million, or $0.05 per diluted share, for the quarter ended 31st March 2002.

Excluding stock-based compensation expense, pro forma net income was $2.1 million, or $0.07 per diluted share, for the quarter ended 30th June 2002, up 80% from $1.2 million or $0.05 per diluted share, for the quarter ended 30th June 2001, and up 27% from $1.6 million, or $0.06 per diluted share, for the quarter ended 31st March 2002.

"Thanks to the continued adoption of HSIM by our global customers and the hard work of all of our employees, we have achieved our 11th consecutive quarter of revenue growth, with a record operating margin for the quarter of 32%, excluding stock-based compensation", said Sang Wang, Chief Executive Officer of Nassda, "Last quarter, we also released our second major product, Lexsim, the first full-chip verification tool able to simulate the parasitic effects of both the power network and signal interconnects on the performance of complex ICs with millions of transistors.

With these products, Nassda is meeting the important verification challenges of the latest nanometer designs and helping designers achieve improved product quality and early silicon success".

The company expects the electronic and semiconductor environment to remain challenging going forward.

However, as the semiconductor industry continues to move to smaller and smaller geometries, the company believes that the need for full-chip transistor-level circuit simulation will continue to increase.

As a result, Nassda expects revenue of $9.8 million to $9.9 million and pro forma diluted earnings per share of approximately $0.08 for the quarter ending 30th September 2002, which is Nassda's fourth quarter of fiscal 2002.