Synplicity (Sunnyvale, Calif.) turned in a net income of $1.1. million based on generally accepted accounting principles (GAAP) for the second quarter, or 4 cents per share, up from a $921,000, or 3 cents per share, for the same period of 2005, the company said. GAAP net income for the second quarter included $222,000 in amortization of intangible assets from acquisitions and $935,000 in stock-based compensation expense, the company said.

"During the second quarter, we re-focused the company onto our core FPGA implementation strength and delivered solid execution to our plan, resulting in revenue and earnings growth despite our exit from the ASIC business," said Gary Meyers, president and CEO of Synplicity, in a statement. "Orders in our focused growth areas of Synplify Premier, Certify, and Synplify DSP exceeded our expectations and continued to demonstrate our leadership. With spending under control and an exciting roadmap of unique high value solutions in hand, we look forward to building greater shareholder value in the future."

Synplicity said in March it would phase out its cell-based and structured ASIC design tools and reduce its global workforce by roughly 8 percent.

Synplicity said it expects to record revenue for the third quarter in the range of $16 million to $16.5 million. For the year, the company expects revenue to be in the range of $63 million to $65 million. The company expects to report GAAP net income of 10 to 15 cents per share for 2006, and 4 to 6 cents per share for the third quarter.