Innoveda Performance Exceeds Consensus Street Estimates

1/9/2002 - Innoveda, Inc. (Nasdaq:INOV), a leading provider of innovative software and services for the design of advanced electronic products, today announced it expects to report approximately $22 million in revenue and approximately $2.6 million of operating income, before amortization, for the fourth quarter of 2001, exceeding consensus street estimates. The announcement is based on a preliminary review of Innoveda’s financial results, in anticipation of a corporate presentation by William J. (Will) Herman, president and chief executive officer, and Kevin O’Brien, chief financial officer, on Jan. 10 at the fourth annual Needham Growth Conference, at the New York Palace Hotel. They will provide institutional investors with a review of Innoveda’s financial performance, strategies and markets. These financial results are not final and currently are being audited by Innoveda’s independent auditors and are subject to adjustment. Innoveda plans to issue its final financial results for the fourth quarter on Jan. 28.

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