HPL Technologies Reports Revenues of $2.9 Million for Recent Quarter

2/1/2005 - HPL Technologies, Inc. (OTC:HPLA.PK), a provider of yield-optimization software solutions for the semiconductor and flat-panel display industries, announced financial results for the third quarter ended December 31, 2004.

Summary of Financial Results for the Third Fiscal Quarter
HPL reported revenues of $2.9 million and a net loss of $1.8 million, or $0.06 per share basic and diluted for the three months ended December 31, 2004, compared to revenues of $3.5 million and a net loss of $2.2 million, or $0.07 per share basic and diluted for the same quarter a year ago. HPL reported revenues of $7.8 million and a net loss of $7.7 million, or $0.25 per share basic and diluted for the nine months ended December 31, 2004, compared to revenues of $8.9 million and a net loss of $11.0 million, or $0.35 per share basic and diluted for the same period a year ago.

As of December 31, 2004, the Company had approximately $5.1 million in cash, cash equivalents, and short-term investments.

As previously reported, the federal district court is scheduled to consider the final approval of the Company's federal class action litigation settlement on February 24, 2005.

About HPL Technologies
HPL Technologies, Inc. is a provider of yield optimization solutions for the semiconductor and flat panel display industries. HPL offers a comprehensive portfolio of products and services including: silicon-proven intellectual property (IP), highly flexible data analysis platforms, factory floor systems and professional services.

HPL solutions have enabled companies to significantly improve yield by accelerating the process by which they identify, characterize and eliminate sources of failure throughout the entire product lifecycle. This is why a majority of the world's top twenty-five semiconductor and flat-panel manufacturers use HPL yield optimization solutions.

Except for statements of historical fact, the statements in this news release are forward-looking statements. Such statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors and other risks inherent in our business are described in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on July 14, 2004 and in subsequent Quarterly Reports on Form 10-Q. Actual results may vary materially. The Company undertakes no obligation to update the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

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