San Jose, Calif.--Jan. 20, 1998--Quickturn Design Systems, Inc. announced fourth quarter revenue of $32.5 million, up 6 percent over revenue of $30.7 million in the comparable period of 1996. Net income for the fourth quarter of 1997 was $3.6 million or $0.19 per share, compared with $4.5 million or $0.25 per share in the fourth quarter of 1996.
Revenue for the year ended December 31, 1997 was $110.4 million, an increase of 1 percent over 1996 revenue of $109.6 million. The reported net loss was $5.3 million or ($0.31) per share, compared to net income of $14.1 million or $0.79 per share in 1996.
The 1997 results include a one-time expense related to the pooling-of-interests merger with Speedsim, Inc. in the first quarter of 1997 and a one-time charge related to the acquisition of the Arkos product from Synopsys, Inc. in the third quarter of 1997. Independent of these charges, net income for 1997 would have been $5.5 million or $0.30 per share.
Quickturn Design Systems
55 W. Trimble Road
San Jose, CA 95131-1013
Return to Headlines