About Magma
Magma's software for designing integrated circuits (ICs) is used to create complex, high-performance chips required in cellular telephones, electronic games, WiFi, MP3 players, DVD/digital video, networking, automotive electronics and other electronic applications. Magma's EDA software for IC implementation, analysis, physical verification, circuit simulation and characterization is recognized as embodying the best in semiconductor technology, enabling the world's top chip companies to "Design Ahead of the Curve"(tm) while reducing design time and costs. Magma is headquartered in San Jose, Calif., with offices around the world. Magma's stock trades on Nasdaq under the ticker symbol LAVA. Visit Magma Design Automation on the Web at www.magma-da.com.
Magma is a registered trademark and "Design Ahead of the Curve" is a trademark of Magma Design Automation. All other product and company names are trademarks and registered trademarks of their respective companies.
MAGMA DESIGN AUTOMATION, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
(unaudited)
November 2, April 6,
2008 2008
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ASSETS
Current assets:
Cash and cash equivalents $ 32,753 $ 46,970
Restricted cash 8,844 --
Short-term investments -- 3,000
Accounts receivable, net 28,302
38,310
Prepaid expenses and other current
assets 4,324 5,244
--------- ---------
Total current assets 74,223 93,524
Property and equipment, net 14,557 15,553
Intangibles, net 25,381 40,436
Goodwill 66,442 64,877
Long-term investments 16,671 17,538
Other assets 6,099 5,467
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Total assets $ 203,373 $ 237,395
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LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable
$ 2,904 $ 3,971
Accrued expenses 23,622 27,788
Secured Credit Line 12,550 --
Revolving note - current portion 10,000 --
Current portion of other long term
liabilities 2,743 2,078
Deferred revenue 25,135 25,254
Convertible notes -- 15,216
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Total current liabilities 76,954 74,307
