SAN FRANCISCO Synplicity Inc. Wednesday (July 20) reported second quarter net revenue of $15.2 million, up 7 percent from the $14.2 million that the company reported for the second quarter of 2004 and up 4 percent from the $14.6 million it reported for the first quarter of this year.
On a generally accepted accounting principles (GAAP) basis, the company reported net income of $921,000, or 3 cents per diluted share, for the second quarter, up from the $469,000, or 2 cents per diluted share, that it reported for second quarter of 2004 and the $515,000 that it reported for the first quarter of 2005.
“In the second quarter, we continued to grow revenues and profits. In the FPGA line of business we had strong sequential and year over year bookings growth of the Synplify Pro and Identify product lines. We also had more than 100 percent year over year bookings growth for the structured ASIC product line and sold a record number of structured ASIC licenses,” said Gary Meyers, Synplicity president and CEO, in a statement. “As we look to the remainder of 2005, we are focused on continuing to drive growth and profitability.”
Synplicity said it expects revenue for the third quarter of 2005 to be approximately $15.8 million and earnings of 5 cents per share on a GAAP basis. Revenue for 2005 is expected to be approximately $62 to $63 million, with GAAP earnings per share of about 19 cents, an increase from prior guidance, the company said.