04/20/00 20:07 Numerical Technologies Reports Record Sales for First Quarter of 2000; Year-to-Year Revenue Growth Exceeds 80 Percent
By Business Editors/High-Tech Writers
SAN JOSE, Calif.--(BUSINESS WIRE)--April 20, 2000--Numerical
Technologies, Inc. (NASDAQ:NMTC) today announced financial results for
the quarter ended March 31, 2000. Numerical reported record revenues
of $3.5 million, up 83% over the same period last year and up 84% from
the previous quarter.
§ Excluding non-cash charges associated with acquisition-related
cost, deferred stock compensation charges, and depreciation charges,
operating loss for the quarter was $2.2 million, compared to a profit
of $11,000 over the same period last year and a loss of $1.8 million
last quarter. Losses generated in the last two quarters were a result
of the company's planned investment in the development, marketing and
sales activities needed to meet the semiconductor industry demand for
subwavelength design-to-silicon solutions as the industry migrates to
semiconductors feature sizes smaller than 0.18 micron.
§ Acquisition-related non-cash charges in the quarter consisted of
$4.8 million of amortization of goodwill and other intangibles
associated with the acquisition of Transcription Enterprises Ltd., on
January 1, 2000. Other non-cash charges in the quarter included $5.2
million associated with deferred stock compensation and depreciation
charges of $219,000.
§ "In Q1, Numerical achieved several major milestones," stated Buno
Pati, President and CEO of Numerical. "The adoption of our patented
phase shifting technology by semiconductor manufacturers continues to
grow. We announced an agreement with Texas Instruments (NYSE:TXN) and
signed an agreement with another major semiconductor manufacturer this
quarter for the production use of our patented technology, from which
we expect to generate future production licensing revenues."
§ In January 2000 Numerical completed the acquisition of
Transcription Enterprises, a dominant player in the manufacturing data
preparation market, which is a critical component of the
design-to-silicon infrastructure. In this quarter the company also
finalized a long-term multi-million dollar agreement with Cadence
Design Systems (NYSE:CDN) to integrate and market Numerical's
subwavelength software and technology. Numerical also continued to
aggressively expand key strategic alliances with semiconductor
design-to-silicon infrastructure providers, announcing new alliances
with Canon (NASDAQ:CANNY), Silicon Valley Group (NASDAQ:SVGI) and
Ultratech Stepper (NASDAQ:UTEK) in the semiconductor equipment sector
and Artisan Components (NASDAQ:ARTI), Cadabra, Nurlogic, and Virtual
Silicon Technology in the design library sector.
§ Pati concluded, "We raised over $80 million through the successful
completion our initial public offering and we are continuing to
aggressively execute on our plan to provide a comprehensive
subwavelength solution that enables the semiconductor industry to
continue its march to smaller, faster, and more power-efficient
§ Due to the SEC quiet period, the company will not have a
conference call for this earnings release. Conference call schedules
for future earnings releases will be available at www.numeritech.com.
§ About Numerical
§ Numerical Technologies, Inc. develops and markets proprietary
technology, software tools and services that enable the semiconductor
industry to produce subwavelength integrated circuits, i.e. integrated
circuits with components smaller than the wavelength of light used to
create circuit patterns on silicon.
§ Numerical's products and industry alliances form a comprehensive
design-to-silicon solution that enables the creation of smaller,
faster, and more power-efficient semiconductors using available
manufacturing equipment. Numerical customers include the world's
leading semiconductor companies, design automation tool vendors,
semiconductor equipment suppliers and photomask manufacturers.
Additional information about the company is available on the Web at
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