Verification Leader's Revenue Up 46 Percent
LOS GATOS, Calif. - February 18, 2002 - TransEDA® PLC, the leader in ready-to-use verification solutions, announced record revenue for the six months ending December 31, 2001. TransEDA is publicly listed on the London Stock Exchange's Alternative Investment Market (AIM).
Revenue for the first half of 2002 was £3.5 million ($5.0 million U.S.), an increase of 46% over the same period last year. TransEDA achieved a profit before taxation, interest, depreciation and goodwill amortization of £150,000 ($214,000 U.S.), compared with £79,000 ($113,000 U.S.) for the same period in 2001, an increase of 90%. Goodwill amortization amounts to £349,000 ($499,000 U.S.) and reflects a full six-month charge on the goodwill arising from the DualSoft and iMODL acquisitions made in the previous financial period. Cash reserves remain strong at £1 million ($1.4 million U.S.). "Despite the economic downturn and a historically slower first half, we are extremely pleased to have produced such encouraging growth," said Ellis Smith, chief executive officer, TransEDA. "We are looking toward a successful conclusion to our second year as a quoted public company. We will continue to invest in our products to provide cost-effective solutions for our customers' verification problems. We will also continue to invest heavily in product development and seek opportunities for acquiring complementary technologies to help drive shareholder value."
During the first six months of the 2002 fiscal year, TransEDA signed major agreements worth over £1,300,000 ($1,860,000 U.S.) with Hitachi, IBM, NEC, nVidia, ServerWorks, and Unisys. TransEDA has also continued to invest in research and development and has recently released the latest version of its Verification Navigator® integrated design verification environment, which features significant enhancements. These include added functionality, enhanced run-time and memory performance. Further releases of products will be made during the remainder of the year that will include new tools to speed up the process of functional verification.
TransEDA PLC (symbol TRA on the Alternative Investment Market in London) develops and markets ready-to-use verification solutions for electronic field-programmable gate array (FPGA), application-specific integrated circuit (ASIC), and system-on-chip (SoC) designs. The company's verification IP library includes models for advanced microprocessors and bus interfaces. TransEDA's design verification software performs application-specific test automation; configurable HDL checking; code and finite state machine (FSM) coverage analysis; and test suite analysis. TransEDA's tier-1 list of customers includes 18 of the world's top 20 semiconductor vendors. For more information, visit www.transeda.com or contact TransEDA at 983 University Avenue, Building C, Los Gatos, California 95032 U.S.A., telephone (408) 335-1300, fax (408) 335-1319, email email@example.com.
Note: TransEDA and Verification Navigator are registered trademarks of TransEDA. All other trademarks are properties of their respective holders.
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