7/15/2002 - Magma® Design Automation, Inc. (Nasdaq: LAVA), a provider of chip design solutions, will discuss recent business milestones and the company's outlook going forward during its upcoming first quarter earnings webcast on July 24.
"Magma has made advancements in both technology development and market presence," said Roy E. Jewell, president and chief operating officer of Magma. "Even during the difficulties of the current economic climate we have gained market traction as customers migrate to 0.13-micron designs and require software that's designed for such advanced chips. This has provided the support to continue our financial growth and is driving continued product demand."
Discussion will include new product developments, as well as recent customer successes using Magma's design software. "We're finding that more and more established and emerging chip companies are turning to Magma to help them with today's design challenges," said Rajeev Madhavan, Magma chief executive officer. "Our customers are routinely able to tape out chips at small geometries, that operate at fast clock speeds and have many millions of gates. So even during a difficult economic time, the market seems to recognize the value of using Magma to produce great technology."
The call will be at 2 p.m. PDT on Wednesday, July 24, 2002, and will cover results for the company's fiscal year 2003 first quarter, ended June 30, 2002. Magma will release earnings after the market closes on July 24, 2002.
A live webcast of the call will be available on Magma's Web site at www.magma-da.com. Following completion of the call, a replay of the webcast will be available at www.magma-da.com through July 31, 2002. Those without Internet access may listen to a replay of the call by telephone:
United States & Canada: 800-642-1687, conference number 4569499
Outside U.S. & Canada: 706-645-9291, conference number 4569499
The telephone replay will be available from 6 p.m. PDT on July 24, 2002 through July 31, 2002.
About Magma Design Automation
Magma software products enable chip designers to reduce the time required to design and produce complex integrated circuits in the communications, computing, consumer electronics, networking and semiconductor industries. Magma provides a single executable for RTL-to-GDSII chip design. The company's products, Blast Fusion™, Blast Chip®, Blast Plan™, Blast Noise™ and Blast Prototype™ utilize Magma's proprietary FixedTiming® methodology and single data model architecture to reduce the timing-closure iterations often required between the logic and physical processes in conventional IC design flows. Magma's Diamond SI™ also leverages the single data model architecture to provide an integrated, standalone platform for post-layout, sign-off-quality signal integrity verification.
Magma maintains headquarters in Cupertino, Calif., as well as sales and support facilities in Silicon Valley, Los Angeles, Orange County and San Diego, Calif.; Boston, Mass.; Durham, N.C.; Laurys Station, Pa.; Austin and Dallas, Texas; Newcastle, Wash.; and in Germany, Israel, Japan, Korea, The Netherlands, Taiwan and the United Kingdom. The company's stock trades on Nasdaq under the ticker symbol LAVA. Visit Magma Design Automation on the Web at www.magma-da.com
Magma, Blast Chip and FixedTiming are registered trademarks and Blast Fusion, Blast Noise, Blast Plan, Blast Prototype and Diamond SI are trademarks of Magma Design Automation. All other product and company names are trademarks and registered trademarks of their respective companies.
Except for the historical information contained herein, the matters set forth in this press release, including statements about Magma's continued financial growth, the features and benefits of Magma's technology, its market traction and its customers' continuing successes, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially including, but not limited to, continued market acceptance of Magma's products, the ability of Magma's products to produce the desired results and Magma's ability to keep pace with rapidly changing technology. Further discussion of these and other potential risk factors may be found in Magma's Form 10-K for the fiscal year ended March 31, 2002 filed with the Securities and Exchange Commission ("SEC") on June 28, 2002, and from time to time in Magma's SEC reports. These forward-looking statements speak only as of the date hereof. Magma disclaims any obligation to update these forward-looking statements.
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