( ESNUG 468 Item 11 ) ------------------------------------------- [09/13/07]
Subject: ( ESNUG 467 #11 ) Mike Dini wrong, Synplicity FPGA revenue up 14%
> I think I understand the financial reasons, but the intangibles here do
> not speak well for the future of Synplicity. It is clear that the core
> business of Synplicity, FPGA synthesis (Synplify Pro), is in deep trouble;
> saturated, therefore stagnant, and likely shrinking.
>
> A review of Synplicity Financials over the last three years explains
> much. Worse, in the Tier 1 FPGA accounts (Xilinx/Altera), the Synplicity
> synthesis products compete against tools that work quite well and are
> FREE. To satisfy institutional investors, Synplicity needed to expand
> the bottom line and hide this declining revenue.
>
> - Mike Dini
> The Dini Group La Jolla, CA
From: Andy Haines <andyh=user domain=synplicity not calm>
Hi, John,
You recently posted Mike Dini's opinions about Synplicity's business, so I
thought your readers might like to hear what our CEO, Gary Meyers, had to
say in our Q2 earnings conference call.
"Second quarter revenue was up 9% year on year, including strong end
of June shipments of our new High Performance ASIC Prototyping Systems,
which we call HAPS, resulting from the HARDI acquisition. Even without
the HAPS contribution, though, software revenue was higher than
expected due to strong bookings across the product lines, especially
from our Synplify Premier product.
Excluding the impact of the expected decline in ASIC synthesis, revenue
grew 14% and bookings by over 30% compared to Q2 2006. Software product
bookings alone grew by over 14% in the quarter, driven by key major
account wins and a record quarter for Synplify Premier. At 23% of new
software bookings in the quarter, Synplify Premier continues to ramp
nicely. In ASIC verification, Certify also had a very strong quarter,
with over 40% bookings growth year on year, representing a record 13% of
total software sales. Finally, in our ESL segment, the Synplify DSP
products had a record quarter, growing to 5% of software bookings and
achieving over 2.5x growth over the year ago period. We expect this
growth to continue as well."
We are charged up about our new HAPS product line and vision of a combined
hardware/software prototyping solution based on our new Confirma ASIC
verification platform. For those interested, a recording of the earnings
call is available on our website at http://investor.synplicity.com.
- Andy Haines
Synplicity, Inc. Sunnyvale, CA
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