Cupertino, Calif.--July 22, 1998--Ikos Systems, Inc. (Cupertino) announced results for the third fiscal quarter ending July 4, 1998, which are in line with the Company's preliminary announcement of July 1, 1998. Revenue for the quarter was $8,424,000 as compared to revenue of $14,429,000 for the quarter ended June 28, 1997. Net loss for the quarter, prior to excess inventory and other inventory related charges of $2.3 million as well as a charge of $7.6 million related to the previously announced Delsoft acquisition was $4,683,000, or $0.56 per share. After the charges, the net loss for the quarter was $14,583,000, or $1.74 per share compared to a net loss of $2,344,000 or $0.28 per share for the prior year period which included a $7 million charge associated with the purchase of Zycad's Lightspeed technology.
For the first nine months of fiscal 1998 revenue was $32,808,000 versus $43,093,000 for the same period in 1997. Net loss for the first nine months of 1998 was $13,712,000, or $1.62 per share, compared to net income of $2,346,000 or $0.26 per share for the prior year period.
Earnings per share computations for the third quarter and nine months of fiscal 1998 were based on dilutive, weighted average shares outstanding of 8,392,000 and 8,443,000 respectively.
Ikos Systems, Inc.
19050 Pruneridge Ave.
Cupertino, CA 95014
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