Artisan Components, Inc. Reports Record Royalty and Total Revenue for the First Quarter of Fiscal 2002
SUNNYVALE, Calif.--(BUSINESS WIRE)--Jan. 24, 2002--Artisan Components, Inc. (Nasdaq: ARTI - news), a leading provider of semiconductor intellectual property (IP), today reported revenue and earnings for the first quarter of fiscal 2002. First quarter fiscal 2002 net revenue increased 36% to $7.6 million, as compared with $5.6 million in the first quarter of fiscal 2001. Gross royalty revenue for the first quarter of fiscal 2002 was $2.8 million, of which $2.0 million was reported as net royalty revenue. This increase in net royalty revenue reflects an 80% increase as compared to net royalty revenue of $1.1 million for the first quarter of fiscal 2001.
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:
The number of companies licensing our products increased from our previously reported 800 to over 900 companies around the world.
The number of Artisan-licensed manufacturers producing royalty-bearing designs increased to ten, an increase from the four manufacturers that we reported at the beginning of fiscal 2001.
We achieved our highest ever gross and net royalty results of $2.8 million and $2.0 million respectively, an increase in excess of 60% from the fourth quarter of fiscal 2001.
We achieved record total revenue of $7.6 million for the quarter.
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 - news) 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(TM) 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. World Wide Web address: http://www.artisan.com.
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.
Artisan Components, Inc.
Joy Leo, 408/734-5600 (Chief Financial Officer)
Joyce Chowla, 408/548-3122 (Investor Relations)
Claudia Natalia, 408/548-3172 (Corporate Communications)