CIMdata PLM Industry Summary Online Archive
22 October 2007
Financial News
Synplicity Announces Third Quarter 2007 Results
Synplicity®, Inc. announced financial results for the quarter ended September 30, 2007.
Revenue for the quarter ended September 30, 2007 was $19.4 million. This compares to the $16.3 million of revenue reported for the quarter ended September 30, 2006. On a generally accepted accounting principles (GAAP) basis, net income was $1.5 million, or $0.05 per diluted share, for the quarter ended September 30, 2007, as compared to a GAAP net income of $1.6 million, or $0.06 per diluted share, for the quarter ended September 30, 2006. For the quarter ended September 30, 2007, GAAP net income included non-cash charges of $959,000 of intangible amortization expense from acquisitions and $747,000 of stock-based compensation expense. For the quarter ended September 30, 2006, GAAP net income included $223,000 of intangible amortization expense from acquisitions and $947,000 of stock-based compensation expense.
For the nine months ended September 30, 2007, revenue was $51.1 million, compared to revenue of $46.1 million for the nine months ended September 30, 2006. For the nine months ended September 30, 2007, the Company reported GAAP net income of $2.7 million, or $0.10 per diluted share. Included in GAAP net income for the nine month period ended September 30, 2007 were non-cash charges of $1.6 million of intangible amortization expense from acquisitions and $2.4 million of stock-based compensation expense. For the nine months ended September 30, 2006, the Company reported a GAAP net income of $1.6 million, or $0.06 per diluted share. Included in net income was $668,000 of intangible amortization expense from acquisitions, $2.8 million of stock-based compensation and a restructuring charge of $854,000.
"I am pleased to report another great quarter at Synplicity with record revenue and operating income, excluding the effects of stock and amortization expenses", said Gary Meyers, president and CEO. "The integration of HARDI Electronics has been seamless and we are very pleased with the results to date."
Business Outlook
The following statements are based on current expectations. This guidance reflects the acquisition of HARDI Electronics AB in June 2007. We do not intend to update, confirm or change this guidance until our earnings conference call for the fourth quarter of 2007.
Revenue for the fourth quarter of 2007 is expected to be in the range of $19.0 to $20.0 million.
GAAP net income per fully diluted share for the fourth quarter of 2007 is expected to be in the range of $0.02 to $0.05. GAAP net income for the quarter is expected to include non-cash charges of approximately $850,000 relating to stock-based compensation and $880,000 of amortization expense from acquisitions.
Audio Webcast
The Company's earnings call will be webcast today at 5:45 a.m. Pacific, and may be accessed at http://investor.synplicity.com . Following completion of the call, a rebroadcast of the webcast will be available at http://investor.synplicity.com through December 31, 2007. For those without access to the Internet, a replay of the call will be available from 8:45 a.m. Pacific on October 22, 2007 through November 5, 2007. To listen to a replay, call (719) 457-0820, access code 7036417.
Become a member of the CIMdata PLM Community to receive your daily PLM news and much more.
Tell us what you think of the CIMdata Newsletter. Send your feedback.
CIMdata is committed to your privacy. Your personal information will never be sold or shared outside of CIMdata without your express permission.