Pro forma net income for the first quarter of fiscal 2002, excluding the recurring amortization related to Artisan's acquisition of the physical library group of Synopsys, was $413,000, or $0.02 on a diluted per share basis. Including the amortization of these intangibles, net income for the first quarter of fiscal 2002 was $118,000, or $0.01 per diluted share, as compared to net income of $699,000, or $0.05 per diluted share in the same period last year.
"Our record revenue for the quarter reflected improved performance in our licensing business combined with the largest quarter-over-quarter dollar increase in royalty revenue in our history," commented Mark Templeton, president and chief executive officer of Artisan Components. "This has been a quarter of new records for Artisan's business:
We are seeing an increase in the number of Artisan based designs that are going into manufacturing. We believe that these events may be early signs of a recovery in the semiconductor industry."
Artisan's conference call will be available by telephone at (719) 457-2633 and also live via webcast from Artisan's website or at www.vcall.com beginning at 2:00 p.m. PST (5:00 p.m. EST) on Thursday, January 24, 2002. A telephonic replay will be available through Friday, February 1, 2002 at (719) 457-0820. The passcode for both Artisan's live conference call and telephonic replay is 760150.
Safe Harbor Statement
This press release contains projections and other forward-looking statements, including statements regarding an increase in the number of royalty-bearing products beginning to be manufactured and early signs of a recovery in the semiconductor industry. These statements are subject to various risk factors including the following: the continued demand for semiconductors including Artisan's products and the production of those products in volume; delays in the design process or delays in a customer's project that use Artisan's products; Artisan's ability to negotiate, structure, monitor and enforce agreements for the determination and payment of royalties; and the continuation of the worldwide slowdown in economic activity, as well as continued and substantial weakness in businesses' capital expenditures on technology.
We refer you also to the documents that Artisan files from time to time with the Securities and Exchange Commission, in particular the section entitled "Factors Affecting Future Operating Results" in Artisan's annual report on Form 10-K and its quarterly reports on Forms 10-Q.
About Artisan Components
Artisan Components, Inc., (Nasdaq: ARTI) is a world leader in intellectual property (IP) components, providing high-quality solutions for many of the world's leading semiconductor foundries, integrated device manufacturers, ASIC vendors and IC design teams. Artisan's Process-Perfect™ memory generators, standard cell and I/O libraries are optimized to achieve the full-speed, density and low-power potential of each semiconductor process. Each product is verified using the industry's most comprehensive QA and validation procedures and delivered ready to use with a complete set of views and models supporting leading design tools. Artisan's headquarters are located at 141 Caspian Court, Sunnyvale, CA 94089-1013.
Artisan Components is a registered trademark and Process-Perfect is a trademark of Artisan Components, Inc. All other trademarks or registered trademarks are the property of their respective owners.