ARTI - Getting some attention today, nice price increase in last two days. I still really like this issue for the intermediate term hold.
Earnings announcement:
Artisan Components, Inc. Reports First Quarter Fiscal Year 99 Operating Results
SUNNYVALE, Calif., Jan. 19 /PRNewswire/ -- Artisan Components, Inc. (Nasdaq: ARTI - news) today reported revenue and earnings for its fiscal quarter ended December 31, 1998 that were within the range of its estimates that had been previously announced on December 16, 1998. First quarter fiscal 1999 revenue decreased 9% to $3.0 million as compared with $3.3 million in the same period last year. An operating loss of $1.2 million was recorded in the quarter, as compared with operating income of $222,000 in the first quarter of 1998. The company reported a net loss of $672,000, or ($0.05) per share as compared with net income of $207,000 or $0.02 per share in the same period last year.
''Although the operating results for the quarter were disappointing, we continue to lay the groundwork for improved performance as we go forward,'' stated Mark Templeton, president and chief executive officer. ''During the quarter, we delivered products to a number of leading semiconductor companies including NEC, NVIDIA, OKI, Siemens, Silicon Graphics, TSMC and UMC. We were also pleased to have received a substantial new purchase order with NEC that will be delivered under a royalty-bearing license agreement.
''Our library distributions to fabless IC companies continue to go very well. We have provided library products to over 300 of these companies and have begun to see the first silicon successes resulting from these distributions.
''As we have stated previously, many of our semiconductor customers continue to experience difficult market conditions and we are feeling the effects of this,'' continued Templeton. ''However, we believe that we are positioned to benefit as conditions improve.''
In addition to the historical information contained herein, this press release may contain projections and other forward-looking statements regarding future events or the future financial performance of the Company. Such statements are just predictions and actual events or results may differ materially. Many important factors could cause the actual results to differ materially from those contained in such projections or forward-looking statements, including but not limited to the risks that the Company's products will fail to achieve market acceptance, the timing of customer orders, delays in the design process due to changes in customer orders after they are placed, the Company's ability to achieve progress on percentage of completion contracts, the length of the Company's sales cycle, the Company's ability to develop, introduce and market new products and product enhancements, the timing of new product announcements and introductions by the Company and its competitors, the demand for semiconductors and end-user products that incorporate semiconductors, general economic conditions particularly in the markets of Asia and Japan where a large portion of the Company's revenues are derived, and other risks. We refer you to the documents that the Company files from time to time with the Securities and Exchange Commission, in particular the Company's Annual Report on Form 10-K and the section entitled ''Risk Factors'' and its quarterly reports on Forms 10-Q.
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