Nassda keeps on growing

A Nassda Corp product story

Edited by the Electronicstalk editorial team Jan 21, 2003

Nassda Corporation has revealed its financial results for the quarter ended 31st December 2002, the first quarter of Nassda's fiscal 2003.

Nassda Corporation has revealed its financial results for the quarter ended 31st December 2002, the first quarter of Nassda's fiscal 2003.

Revenue for the quarter ended 31st December 2002 was $10.3 million, a 46% increase from $7.1 million for the quarter ended 31st December 2001 and a 5% increase from $9.9 million for the quarter ended 30th September 2002.

Net income for the quarter ended 31st December 2002 was $2.0 million, or $0.07 per diluted share, up 98% from $1.0 million or $0.04 per diluted share, for the quarter ended 31st December 2001 and a decrease from $2.2 million, or $0.08 per diluted share, for the quarter ended 30th September 2002.

Excluding stock-based compensation expense, pro forma net income was $2.2 million, or $0.08 per diluted share, for the quarter ended 31st December 2002, up 74% from $1.3 million, or $0.05 per diluted share, for the quarter ended 31st December 2001 and a slight decrease from $2.3 million, or $0.08 per diluted share, for the quarter ended 30th September 2002.

"I am happy to announce that we have just achieved our 13th consecutive quarter of revenue growth and had a 30% operating margin for the quarter, excluding stock-based compensation", said Sang Wang, Chief Executive Officer.

"First fiscal quarters are always seasonally challenging and the semiconductor industry has remained weak.

Nevertheless, Nassda's team continued to focus on providing our leading solutions with the highest quality of support and pushed ahead with full force to achieve our goals.

More importantly, we added more than 15 new customers".

Going forward, Nassda expects the global economic climate for the electronics and semiconductor industry to remain challenging despite the transition from 0.18 micron to smaller silicon geometries of 0.13 micron and 0.09 micron (90 nanometers).

Nassda believes this shift to ever-smaller nanometer geometries is continuing, and that the requirement for full-chip transistor-level circuit simulation is becoming ever more critical.

As a result, Nassda expects revenue of $11.2 million to $11.6 million, fully diluted earnings per share of approximately $0.07 and pro forma diluted earnings per share of approximately $0.08 for the quarter ending 31st March 2003, which is the second quarter of Nassda's fiscal 2003.