SUNNYVALE, Calif., -- January 27, 2003 -- Artisan Components, Inc. (Nasdaq: ARTI), a leading provider of semiconductor intellectual property (IP), today reported operating results for the quarter ended December 31, 2002, the first quarter of Artisan's fiscal 2003. Net revenue for the first quarter of fiscal 2003 increased 85% to $14.0 million compared to $7.6 million in the same period last year. Gross royalty revenue for the first quarter of fiscal 2003 was $2.7 million, of which $2.0 million was reported as net royalty revenue, consistent with the first quarter of fiscal 2002.
Net income for the first quarter of fiscal 2003 was $2.2 million or $0.11 per diluted share compared to net income of $0.1 million or $0.01 per diluted share in the same period last year. Pro forma net income for the first quarter was $1.7 million or $0.09 per diluted share compared to pro forma net income of $0.4 million or $0.02 per diluted share in the same period last year.
"Artisan's products and business model provide high value to both manufacturers and fabless semiconductor companies," commented Mark Templeton, president and chief executive officer of Artisan Components. "During these tough economic times, our mission is to provide IC design teams with access to a large choice of process technologies and differentiated manufacturing sources and to provide manufacturers with an effective channel to thousands of Artisan-based design teams. Our results demonstrate that we are delivering on that mission."
Artisan is hosting a conference call beginning at 2:00 p.m. PST (5:00 p.m. EST) on Monday, January 27, 2003 to discuss the results of the first quarter of fiscal 2003 and to review Artisan's progress and outlook. Interested parties may participate in the conference call by dialing 913-981-5549 and via live webcast at www.vcall.com. A telephonic replay will be available through Sunday, February 2, 2003 at 719-457-0820. The passcode for both Artisan's live conference call and telephonic replay is 683323.
Safe Harbor Statement
This press release contains projections and other forward-looking statements, including statements regarding the value delivered by Artisan's products and business model to manufacturers and design teams. These statements are subject to various risk factors including, without limitation, the continued demand for semiconductors including Artisan's products and the production of those semiconductors in volume; delays in the design process or delays in a customer's project that use Artisan's products; the rapid pace of technological development; Artisan's ability to negotiate, structure, monitor and enforce agreements for the determination and payment of royalties; and the continuation of the worldwide slowdown in economic activity, as well as continued weakness in businesses' capital expenditures on technology. We refer you also to the documents that Artisan files from time to time with the Securities and Exchange Commission, in particular the section entitled "Factors Affecting Future Operating Results" in Artisan's annual report on Form 10-K and its quarterly reports on Forms 10-Q.
About Artisan Components
Artisan Components, Inc. is a leading semiconductor intellectual property (IP) provider. The company's design platforms are licensed to over 1000 companies worldwide. Artisan's design platforms provide IC designers with a common interface to a range of process technologies from the world's leading foundries. Built on Artisan's Process-Perfect™ memory generators, standard cell and I/O libraries, Artisan's design platforms include a comprehensive set of views and models supporting leading design tools and methodologies. Artisan's worldwide network of EDA, IP and design service partners extend the Artisan standard to a complete set of system level design and integration solutions. Artisan is headquartered in Sunnyvale, California. More information about Artisan Components, including free library access can be found at: http://access.arm.com.
Artisan Components is a registered trademark and Process-Perfect is a trademark of Artisan Components, Inc. All other trademarks or registered trademarks are the property of their respective owners.