Magma Reports Record Revenue of $41.3 Million in Third-Quarter Financial Results.

SANTA CLARA, Calif. -- Magma Design Automation Inc. (Nasdaq:LAVA), a provider of semiconductor design software, today announced it achieved record revenue of $41.3 million for its 2006 fiscal third quarter, ended Jan. 1, 2006, an increase of 11 percent over the $37.3 million reported for the year-ago third quarter ended Dec. 31, 2004.

GAAP Results

In accordance with generally accepted accounting principles (GAAP), Magma reported a net loss of $(8.1) million, or $(0.23) per share (basic and diluted), for the quarter, compared to a net loss of $(0.7) million, or $(0.02) per share (basic and diluted), for the year-ago third quarter.

Non-GAAP Results

Magma reported non-GAAP net income of $3.5 million for its fiscal 2006 third quarter, or $0.09 per share (diluted). This compares to a non-GAAP net income of $8.4 million, or $0.20 per share (diluted), for the year-ago third quarter.

Non-GAAP net income for the third quarter of fiscal 2006 excludes the effects of amortization of developed technology, amortization of intangible assets, amortization of deferred stock-based compen...

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