Looking back on 2010, Cadence CEO Lip-Bu Tan chose to focus on the positives. “The Cadence team delivered a strong performance in the fourth quarter. Revenue, operating margin and cash flow all improved in the period and fiscal year 2010. Throughout the year, we strengthened key customer and partner relationships by demonstrating our technology leadership and delivering superior solutions to their complex challenges.”
“We remain laser-focused on executing our strategy and achieving our long-term objectives. We are entering 2011 with good customer momentum, and a strong pipeline of technology across System, SoC, and Silicon Realization that deliver on our EDA360 vision.”
“Cadence capped a successful 2010 with a strong fourth quarter. We made significant improvements in all of our key operating metrics in 2010,” added Geoff Ribar, now senior vice president and chief financial officer.
(NOTE: On September 27, 2010, Cadence had announced that Mr. Ribar, who was previously chief financial officer of Telegent Systems, Inc., would be appointed senior vice president and chief financial officer of Cadence effective on or about November 1, 2010. Kevin Palatnik was planning on leaving the company to pursue other interests. Mr. Palatnik planned to remain with the company as an advisor to ensure a smooth transition of duties to Mr. Ribar, leaving Cadence by the end of Q1 2011).
“As you can see from our outlook, we expect further growth in business levels and improvement in profitability in 2011.”
The following statements are based on current Cadence expectations. These statements are forward-looking, and actual results may differ materially.
For the first quarter of 2011, the company expects total revenue in the range of $255 million to $265 million. First quarter GAAP net per diluted share is expected to be in the range of $(0.02) to $0.00.
For the full year 2011, the company expects total revenue in the range of $1,030 million to $1,070 million. On a GAAP basis, net income per diluted share for fiscal year 2011 is expected to be in the range of $0.00 to $0.10.
Cadence self description
Cadence enables global electronic design innovation and plays an essential role in the creation of today's integrated circuits and electronics. Customers use Cadence software and hardware, methodologies, and services to design and verify advanced semiconductors, consumer electronics, networking and telecommunications equipment, and computer systems. The company is headquartered in San Jose, Calif., with sales offices, design centers, and research facilities around the world to serve the global electronics industry. More information about the company and its products and services is available at www.cadence.com
On February 24, 2011 Magma® Design Automation Inc. (NASDAQ:LAVA) reported revenue of $34.76 million for its fiscal 2011 third quarter ended January 30, 2011 (hereinafter called nominal Q4 2010 for our purposes). The nominal Q4 2010 revenue of $34.76 million was up 12.27% from the $30.96 million in revenue reported in nominal Q4 2009, and up 2.45% from the $33.93 million in revenue from the just prior nominal Q3 2010. The $34.76 million achieved in nominal Q4 2010 exceeded the Magma guidance given 3 months ago of a revenue expectation between $34.0 million and $34.5 million.
"Financial performance was once again solid (in nominal Q4 2010) – for the eighth consecutive quarter we met or exceeded all guidance targets and generated cash," said Rajeev Madhavan, Magma chairman and chief executive officer.
"Magma products are performing well across the board. Our core digital platform Talus is the 28-nanometer plan of record at several leading-edge semiconductor companies and has been used to complete 28-nm production and 20-nm test chip tapeouts. In analog implementation, Titan continued its momentum with two new logos in the quarter, and in circuit simulation FineSim continued to take share as we signed up more than 10 new FineSim logos – all companies that previously were not Magma customers."
Overall Magma added 14 new customer logos during nominal Q4 2010, including four new users of SiliconSmart ACE, Magma's library characterization product. In one of these accounts, Magma SiliconSmart replaced an incumbent product at a Top 20 semiconductor company.
GAAP Results for nominal Q4 2010
In accordance with generally accepted accounting principles (GAAP), Magma ventured into the black, reporting net income of $961,000, or $0.01 per share for nominal Q4 2010, compared to a net loss of $2,638,000, or $(0.05) per share for the year-ago nominal Q4 2009. In the just prior nominal Q3 2010, Magma lost $2,714,000, or $(0.04).
Magma did not expect getting into the black in nominal Q4 2010 3 months ago, having issued guidance three months ago of a quarterly loss per share of $(0.04) to $(0.03).
In the third quarter, Magma generated cash flow from operations of approximately $6.8 million.
For Magma's nominal Q1 2011, the company expects total revenue in the range of $35.0 million to $35.5 million. GAAP net loss per share is expected to be in the range of $(0.04) to $(0.03).
Magma self description
Magma's electronic design automation (EDA) software provides the "Fastest Path to Silicon"(TM) and enables the world's top chip companies to create high-performance integrated circuits (ICs) for cellular telephones, electronic games, WiFi, MP3 players, digital video, networking and other electronic applications. Magma products are used in IC implementation, analog/mixed-signal design, analysis, physical verification, circuit simulation and characterization. The company maintains headquarters in San Jose, Calif., and offices throughout North America, Europe, Japan, Asia and India. Magma's stock trades on NASDAQ under the ticker symbol LAVA. Follow Magma on Twitter at www.Twitter.com/MagmaEDA and on Facebook at www.Facebook.com/Magma. Visit Magma Design Automation on the Web at www.magma-da.com. Magma is a registered trademark and "Fastest Path to Silicon" is a trademark of Magma Design Automation. All other product and company names are trademarks and registered trademarks of their respective companies.
On February 24, 2011 Mentor Graphics Corporation (NASDAQ:MENT) announced results for its fiscal fourth quarter (a.k.a. the nominal Q4 2010 to us) and for its full year ending January 31, 2011.
full nominal 2010 year, the company reported revenues of $914.75 million, up an impressive 13.67% from nominal year 2009. Moreover, the company achieved 2010 GAAP earnings of $27.140 million and 2010 GAAP earnings per share of $.25, compared to a 2009 GAAP loss of $21.889 million and a 2009 GAAP loss per share of $.23.