Beaverton, Ore.--Oct. 23, 1997--OrCAD, the world's leading provider of EDA software for the Intel /Microsoft platform, reported third quarter financial results. Revenue for third quarter 1997 increased 10 percent to $5.8 million from $5.3 million for the same period in 1996.
Net income for third quarter 1997 was $259,000, or $0.04 per share. This compares with third quarter 1996 net income of $1.2 million, or $0.16 per share.
For the first nine months of 1997, revenue increased 20 percent to $18.7 million, from $15.6 million for the first nine months of 1996. Excluding the one-time research and development charges of $2.2 million, or $0.21 per share, related to the acquisitions of assets from TEAM Corporation and Q Point Technology, net income for the first nine months of 1997 was $2.1 million, or $0.31 per share, compared with net income of $3.0 million, or $0.47 per share for 1996.Including the one-time research and development charges, net income for the first nine months of 1997 was $713,000, or $0.10 per share.
In a move to expand OrCAD's competitive market position in 1998, the company recently signed a definitive merger agreement with MicroSim Corporation. MicroSim is the industry's leading supplierof PC-based analog and mixed-signal simulation software for designingprinted circuit board systems. In 1996, MicroSim had revenues of $16million. The merger is expected to be completed by the end of 1997.
Return to Headlines