Virage Logic revenues up year-over-year and sequentially

Virage Logic revenues up year-over-year and sequentially
By EBN
April 30, 2001 (5:15 p.m. EST)
URL: http://www.eetimes.com/story/OEG20010430S0109

Virage Logic Corp., Fremont, Calif., an embedded memory IP vendor, today reported revenues for the second quarter of fiscal 2001, ended March 31, were were $7.6 million, up 65% from $4.6 million a year ago, and up 15% from revenues of $6.6 million reported for the prior quarter.

Total license revenue for the second quarter was $7.2 million and royalties were $422,000, compared with license revenue of $6.3 million and royalties of $275,000 for the first quarter of fiscal 2001. Total license revenue for the second quarter of fiscal 2000 was $4.6 million, with no royalties reported for that period.

Pro forma net income for the second quarter was $968,000, or 5 cents per diluted share, compared with $194,000, or 1 cent per diluted share, for the year-ago quarter.

Actual net loss for the second quarter of fiscal 2001, including non-cash amortization expenses for deferred stock compensation and warrants of $1.7 million, was $701,000, or a loss o f 4 cents per share.

Actual net loss for the same period a year ago, including non cash amortization expenses for deferred stock compensation and warrants of $1.6 million, was $1.4 million, or a loss of 24 cents per share.

For the third fiscal quarter, revenues are expected to be approximately $8.5 million, with gross margin expected to be about 78%. For all of fiscal 2001, revenues are expected to be in the range of approximately $31 million to $33 million, with gross margin expected to be in the range of 77 to 79%.