Fremont, CA - November 13, 2002, Virage Logic Corp. (NASDAQ:VIRL), a global leader in application-optimized semiconductor IP platforms, today announced that it has been recognized as one of the fastest-growing technology companies in Silicon Valley and North America by Deloitte & Touche in its Fast 50 and Fast 500 companies of 2002. The Fast 50 program ranks the fastest-growing technology companies in Silicon Valley, based on the five-year percentage increase in a company's operating revenues from 1997 to 2001. Virage Logic ranked 20th in the Fast 50 this year, a marked improvement over its ranking of 27th in the 2001 Fast 50 program. For the Fast 500 program, which ranks the fastest-growing technology companies in the United States and Canada overall using the same criteria, Virage Logic ranked 55th, compared with 96th last year. . Virage Logic's five-year revenue growth from 1997 to 2001 was 8,508 percent.
"We're pleased to be recognized by Deloitte & Touche for the growth Virage Logic has posted, which reflects strong semiconductor industry demand for semiconductor intellectual property," said Adam Kablanian, president and chief executive officer of Virage Logic. "These trends, along with our strategic positioning as a provider of application-optimized semiconductor IP platforms based on memory, logic and design tools, positions us well to pursue additional market growth opportunities."
For more information on Deloitte & Touche's 2002 Fast 50 and Fast 500 programs and Virage Logic's overall ranking in both programs, please visit their website at Deloitte & Touche
About Deloitte & Touche
Deloitte & Touche, one of the nation's leading professional services firms, provides assurance and advisory, tax, and management consulting services through nearly 30,000 people in more than 100 U.S. cities. The firm is dedicated to helping its clients and its people excel. Known as an employer of choice for innovative human resources programs, Deloitte & Touche has been recognized as one of the "100 Best Companies to Work For in America" by Fortune Magazine for five consecutive years. Deloitte & Touche refers to Deloitte & Touche LLP and related entities. Deloitte & Touche is the US national practice of Deloitte Touche Tohmatsu. Deloitte Touche Tohmatsu is a Swiss Verein, and each of its national practices is a separate and independent legal entity. For more information, please visit Deloitte & Touche's web site at www.us.deloitte.com
About Virage Logic
Virage Logic (Nasdaq:VIRL) is a global leader in application-optimized semiconductor IP platforms based on memory, logic and design tools that are silicon proven and production ready. Virage Logic meets market demands for cost reduction, while improving performance and reliability for fabless and integrated device manufacturer (IDM) companies focused on the consumer, communications and networking, handheld and portable, and graphics markets. For more information, please contact Virage Logic at www.viragelogic.com or telephone (877) 360-6690 (toll free) or (510) 360-8000.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
Statements made in this news release, other than statements of historical fact, are forward-looking statements, including, for example, statements relating to trends, business outlook, products and customer relationships. Forward-looking statements are subject to a number of known and unknown risks and uncertainties, which might cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include Virage Logic's ability to continue to develop new products, maintain and develop new relationships with third-party foundries and integrated device manufacturers, adoption of Virage Logic's technologies by semiconductor companies and increases in the demand for their products, the company's ability to overcome the challenges associated with establishing licensing relationships with semiconductor companies, the company's ability to obtain royalty revenues from customers in addition to license fees, business and economic conditions generally and in the semiconductor industry in particular, competition in the market for embedded memories, and other risks including those described in the company's Annual Report on Form 10-K for the period ended September 30, 2001, filed with the Securities and Exchange Commission (SEC) on December 19, 2001, and in Virage Logic's other periodic reports filed with the SEC, all of which are available from Virage Logic or from the SEC's website (www.sec.gov), and in news releases and other communications. Virage Logic disclaims any intention or duty to update any forward-looking statements made in this news release.
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