Magma Reports Record Revenue and Pro Forma Operating Profit for Third Quarter of Fiscal Year 2002

1/23/2002 - Magma Design Automation, Inc., (Nasdaq: LAVA), a provider of chip design solutions, today reported it achieved record revenue for the third quarter of its fiscal year 2002, which ended December 31, 2001, and achieved pro forma profitability in its first quarter as a public company, excluding non-cash, stock-based compensation and one-time, non-cash interest charges.

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