Nassda Announces Revenue of $12.3 Million for the Quarter Ended March 31, 2005

Net Income of $1.9 million, or $0.07 per Diluted Share

SANTA CLARA, Calif., April 14 /PRNewswire-FirstCall/ -- Nassda Corporation (NASDAQ: NSDA), a leading provider of full-chip circuit simulation and analysis software for the design and verification of complex semiconductors, today announced financial results for the quarter ended March 31, 2005, the second quarter of Nassda's fiscal 2005. Revenue for the quarter ended March 31, 2005 was $12.3 million, an increase of 26% from $9.8 million for the quarter ended March 31, 2004 and an increase of 10% from $11.3 million for the quarter ended December 31, 2004.

Net income for the quarter ended March 31, 2005 was $1.9 million, or $0.07 per diluted share, an increase of 157% from $752,000, or $0.03 per diluted share, for the quarter ended March 31, 2004 and an increase of $8.9 million from a net loss of $(7.0) million, or $(0.25) per diluted share, for the quarter ended December 31, 2004.

For the six months ended March 31, 2005, revenue was $23.6 million, a 21% increase from $19.5 million for the six months ended March 31, 2004. Net loss for the six months ended March 31, 2005 was $(5.0) million, or $(0.18) per diluted share, a decrease from $1.3 million, or $0.05 per diluted share, for the six months ended March 31, 2004.

"We are very proud to have achieved another quarter of sequential revenue growth and returned to profitability with a 12% operating income, despite the substantial costs incurred related to the pending acquisition. Our total cash, cash equivalents and short-term investments balances have also increased to $107.9 million at March 31, 2005," said Sang Wang, Chief Executive Officer. "Due to the pending acquisition, we are not providing any business outlook or guidance for the coming quarters."

Nassda will hold a conference call with financial analysts and investors at 2:00 p.m. PDT today. A live webcast of the call will be available on Nassda's Web site at http://www.nassda.com/ or http://www.fulldisclosure.com/. Following completion of the call, a rebroadcast of the webcast will be available at http://www.nassda.com/ or http://www.fulldisclosure.com/ through April 21, 2005.

Those without internet access may listen to a replay of the call by dialing (719) 457-0820, access code 4347246. The replay will be available from 5:00 p.m. PDT on April 14, 2005, through April 21, 2005.

About Nassda

Nassda Corporation is a leading provider of full-chip circuit verification software for complex nanometer semiconductors. Headquartered in Santa Clara, California, the company develops and markets simulation and analysis solutions for advanced ICs, especially for analog, memory, high-performance digital, and mixed-signal SoC designs. Nassda's products enable first silicon success and improve IC quality and yield for its consumer, communication, computer and memory customers. The company has sales and distribution offices throughout the world. For more information about Nassda, please visit the company's website at http://www.nassda.com/.

Forward Looking Statements

This press release contains forward-looking statements regarding the proposed acquisition by Synopsys that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements in this release involve risks and uncertainty, including without limitation the availability of customer budgets for Nassda's products, Nassda's cost control measures, the timing, receipt of regulatory approvals and stockholders' votes related to the Pending Merger, the time and extent of legal and other expenses related to Nassda's litigation and the Pending Merger, Nassda's product development schedules, the design performance of Nassda's existing and new electronic design automation software and other tools, customers' adoption of Nassda's products, whether customers purchase time-based or perpetual licenses and those customers' design and manufacturing schedules. In addition, continued reduced capital spending or delayed implementation of programs due to adverse general economic conditions and reduced demand for products containing complex nanometer-scale semiconductors may impact Nassda's future performance. These risks, uncertainties and other factors may cause Nassda's actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by the forward-looking statements. In addition, historical information should not be considered a predictor of future performance. Neither Nassda nor any other person assumes responsibility for the accuracy and completeness of these forward-looking statements. Nassda disclaims any obligation to update information contained in any forward- looking statement.

For additional information and considerations regarding the risks faced by Nassda, see Nassda's Annual Report on Form 10-K for the fiscal year ended September 30, 2004 and Quarterly Report on form 10-Q for the quarter ended December 31, 2004, as filed with the Securities and Exchange Commission.

Additional Information About the Pending Merger and Where to Find It

Nassda filed a definitive proxy statement with the SEC in connection with the Pending Merger. Nassda urges investors and security holders to read the proxy statement and any other relevant documents filed with the SEC because they contain important information. Investors and security holders may obtain these documents free of charge at the website maintained by the SEC at http://www.sec.gov/. Additionally, documents filed with the SEC by Nassda are available free of charge by contacting Investor Relations, Nassda, 2650 San Tomas Expressway, Santa Clara, California 95051 (Telephone: (408) 988-9988) and on Nassda's website at http://www.nassda.com/. Documents on Nassda's website will not be a part of the filing.

Nassda's directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of Nassda in connection with the Pending Merger. A description of certain of the interests of directors and executive officers of Nassda is set forth in the proxy statement for Nassda's 2004 annual meeting of stockholders, which was filed with the SEC on March 10, 2005. Sang S. Wang, Nassda's Chief Executive Officer and Chairman, An-Chang Deng, Nassda's President and Chief Operating Officer, and the other individual defendants have entered into certain settlement and release agreements with Synopsys, which will be effective upon the closing of the Pending Merger, which is described in the proxy statement. The remaining directors and officers of Nassda are expected to enter into a release agreement with Synopsys, effective upon closing of the Pending Merger, which are described in the proxy statement. Investors and security holders are able to obtain additional information regarding the direct and indirect interests of Nassda's directors and executive officers in the transaction by reading the definitive proxy statement.

  Nassda is a registered trademark of Nassda Corporation.


                            Nassda Corporation
             Unaudited Consolidated Statements of Operations
                  (in thousands, except per share data)

                                        Three Months Ended  Six Months Ended
                                              March 31,        March 31,
                                            2005     2004    2005     2004
  Revenue
    Product                                $2,620   $1,571   $4,827  $4,574
    Subscription                            6,875    5,755   13,289   9,997
    Maintenance                                             2,851        2,461        5,493      4,943
            Total  revenue                                                12,346        9,787      23,609    19,514

    Cost  of  revenue
        Cost  of  product  revenue                                        33              74              66          165
        Cost  of  subscription  revenue                            149            104            317          209
        Cost  of  maintenance  revenue                              371            259            748          485
            Total  cost  of  revenue                                      553            437        1,131          859

    Gross  profit                                                          11,793        9,350      22,478    18,655

    Operating  expenses:
        Research  and  development                                2,205        2,010        4,356      4,042
        Sales  and  marketing                                          2,750        2,662        5,564      5,340
        General  and  administrative                            5,236        3,623        9,295      7,397
        Litigation  settlement                                            --              --        9,000            --
        Stock-based  compensation                                      83            218            182          442
            Total  operating  expenses                          10,274        8,513      28,397    17,221

    Income  (loss)  from  operations                          1,519            837      (5,919)    1,434
    Other  income,  net                                                      517            238            894          458

    Income  (loss)  before  income  taxes                  2,036        1,075      (5,025)    1,892
    Provision  for  income  taxes                                  (103)        (323)            (8)      (568)
    Net  income  (loss)                                                $1,933          $752    $(5,033)  $1,324

    Earnings  (loss)  per  share:
        Basic                                                                      $0.07        $0.03      $(0.18)    $0.05
        Diluted                                                                  $0.07        $0.03      $(0.18)    $0.05

    Shares  used  in  computing  earnings  per
      share:
        Basic                                                                    27,746      26,251      27,532    26,104
        Diluted                                                                29,688      29,213      27,532    29,181


                                                        Nassda  Corporation
                          Unaudited  Condensed  Consolidated  Balance  Sheets
                                                            (in  thousands)

                                                                                                        March  31,    September  30,
                                                                                                              2005                2004

                                        ASSETS
    Current  assets:
        Cash,  cash  equivalents  and  short-term
          investments                                                                          $107,937        $101,440
        Accounts  receivable,  net  of  allowance                              2,310              1,302
        Prepaid  expenses  and  other  current  assets                          789              1,093
        Deferred  income  taxes                                                              7,577              3,768
            Total  current  assets                                                        118,613          107,603
    Property  and  equipment,  net                                                          378                  483
    Other  assets                                                                                        887                  921
    Total  assets                                                                              $119,878        $109,007

                  LIABILITIES  AND  STOCKHOLDERS'  EQUITY
    Current  liabilities:
        Accounts  payable                                                                      $2,271            $2,168
        Other  accrued  liabilities                                                    10,210              8,342
        Accrued  litigation  settlement                                            76,463            67,463
        Deferred  revenue                                                                      13,170            10,143
            Total  current  liabilities                                              102,114            88,116
    Deferred  revenue                                                                                543                  482
    Other  long-term  liabilities                                                            20                    57
            Total  liabilities                                                              102,677            88,655

    Stockholders'  equity:
        Common  stock                                                                                      28                    27
        Additional  paid-in  capital                                                  74,824            73,117
        Deferred  stock-based  compensation                                          (27)              (235)
        Accumulated  other  comprehensive  loss                                  (109)                (76)
        Accumulated  deficit                                                              (57,515)        (52,481)
            Total  stockholders'  equity                                              17,201            20,352
    Total  liabilities  and  stockholders'  equity                  $119,878        $109,007
 


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