Virage Logic Reports Fourth-Quarter Fiscal 2005 Results


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                       Virage Logic Corporation
            Unaudited Consolidated Statements of Operations
               (In thousands, except per-share amounts)


                            Three Months Ended     Twelve Months Ended
                           --------------------   --------------------
                                September 30,         September 30,
                              2005       2004       2005       2004
                           ----------  --------   ---------  ---------
Revenue:
 License                     $10,001   $12,156     $42,425    $44,775
 Royalties                     2,791     3,158      10,964      8,228
                           ----------  --------   ---------  ---------
Total revenues                12,792    15,314      53,389     53,003
Cost and expenses:
 Cost of revenues              3,523     3,040      13,035     11,215
 Research and development      5,035     4,731      20,263     18,428
 Sales and marketing           3,492     3,784      15,269     14,615
 General and administrative    2,805     1,762       9,083      6,602
 Stock-based compensation         --        --         339        130
                           ----------  --------   ---------  ---------
   Total cost and expenses    14,855    13,317      57,989     50,990
                           ----------  --------   ---------  ---------
   Operating income (loss)    (2,063)    1,997      (4,600)     2,013
Interest income and other,
 net                             532       288       1,703        756
                           ----------  --------   ---------  ---------
   Income (loss) before
    taxes                     (1,531)    2,285      (2,897)     2,769
Income tax provision
 (benefit)                    (1,503)      777      (2,322)       859
                           ----------  --------   ---------  ---------

   Net income (loss)         $   (28)  $ 1,508     $  (575)   $ 1,910
                           ==========  ========   =========  =========

Earnings per share:
 Basic                       $ (0.00)   $ 0.07     $ (0.03)   $  0.09
                           ==========  ========   =========  =========
 Diluted                     $ (0.00)   $ 0.07     $ (0.03)   $  0.09
                           ==========  ========   =========  =========

Shares used in computing
 per share amounts:
 Basic                        22,473    21,534      22,187     21,391
                           ==========  ========   =========  =========
 Diluted                      22,473    22,233      22,187     22,139
                           ==========  ========   =========  =========





                       Virage Logic Corporation
                 Unaudited Consolidated Balance Sheets
                            (In thousands)


                                          September 30,  September 30,
                                              2005           2004
                                          -------------  -------------
ASSETS:
Current assets:
 Cash and cash equivalents                  $    26,841              $  28,746
  Short-term  investments                                              34,349                  27,144
  Accounts  receivable,  net                                          14,201                  17,756
  Costs  in  excess  of  related  billings  on
    uncompleted  contracts                                                    896                        670
  Prepaid  expenses  and  other  current  assets          4,517                    4,079
  Taxes  receivable                                                                493                    1,302
                                                                                    -------------    -------------
          Total  current  assets                                          81,297                  79,697

Property,  equipment  and  leasehold  
  improvements,  net                                                          5,093                    4,090
Goodwill                                                                              9,782                    9,782
Other  intangible  assets,  net                                      2,375                    2,762
Deferred  tax  assets                                                        7,814                    5,225
Long-term  investments                                                    6,648                    7,222
Other  long-term  assets                                                      695                        410
                                                                                    -------------    -------------

          Total  assets                                                    $  113,704              $109,188
                                                                                    =============    =============

LIABILITIES  AND  STOCKHOLDERS'  EQUITY
Current  liabilities:
  Accounts  payable                                                    $          770              $        506
  Accrued  expenses                                                            3,623                    5,019
  Deferred  revenue                                                            8,440                    7,548
  Income  taxes  payable                                                        491                    3,569
                                                                                    -------------    -------------
          Total  current  liabilities                                13,324                  16,642
Deferred  tax  liabilities                                                  852                    1,035
                                                                                    -------------    -------------
          Total  liabilities                                                14,176                  17,677

Stockholders'  equity:
  Common  stock                                                                          23                          22
  Additional  paid-in  capital                                    120,546                112,457
  Accumulated  other  comprehensive  income  
    (loss)                                                                                  474                        (28)
  Accumulated  deficit                                                  (21,515)              (20,940)
                                                                                    -------------    -------------
          Total  stockholders'  equity                              99,528                  91,511
                                                                                    -------------    -------------

          Total  liabilities  and  stockholders'
            equity                                                              $  113,704              $109,188
                                                                                    =============    =============



                                              Virage  Logic  Corporation
                        Unaudited  Consolidated  Statements  of  Cash  Flows
                                                        (In  thousands)


                                                                                                      Three  Months  Ended
                                                                                                ----------------------
                                                                                                          September  30,
                                                                                                      2005                2004
                                                                                                ----------    ----------
OPERATING  ACTIVITIES:
  Net  income  (loss)                                                                  $(28)            $1,509
  Adjustments  to  reconcile  net  income  (loss)  
    to  net  cash  provided  by  (used  in)  
    operating  activities:
          Provision  for  doubtful  accounts                                (40)                  336
          Depreciation                                                                      566                    747
          Amortization  of  intangible  assets                              97                      96
          Tax  benefit  associated  with  employee  
            stock  compensation                                                    1,701                      74
        Changes  in  operating  assets  and  liabilities:
              Accounts  receivable                                                3,228              (4,374)
              Costs  in  excess  of  billings  on
                uncompleted  contracts                                              312                      73
              Prepaid  expenses  and  other  assets                        637                  (261)
              Taxes  receivable                                                        (176)                  609
              Accounts  payable                                                        (542)                (431)
              Accrued  expenses                                                    (1,207)                (189)
              Deferred  revenue                                                      1,733                1,644
              Income  tax  payable                                                    (638)              2,179
              Deferred  taxes                                                        (2,772)            (2,438)
                                                                                                ----------    ----------
  Net  cash  provided  by  (used  in)  operating
    activities                                                                            2,871                  (426)
                                                                                                ----------    ----------

INVESTING  ACTIVITIES:
  Purchase  of  property  and  equipment                                (172)                (302)
  Purchase  of  investments                                                (80,158)          (17,449)
  Proceeds  from  maturities  of  investments                  76,320                3,323
                                                                                                ----------    ----------
  Net  cash  used  in  investing  activities                      (4,010)          (14,428)
                                                                                                ----------    ----------

FINANCING  ACTIVITIES:
  Net  proceeds  from  issuance  of  common  stock                  992                    639
                                                                                                ----------    ----------
  Net  cash  provided  by  financing  activities                    992                    639
                                                                                                ----------    ----------

  Effect  of  exchange  rates  on  cash                                        (2)                    --
                                                                                                ----------    ----------

  Net  decrease  in  cash  and  cash  equivalents                  (149)          (14,215)

  Cash  and  cash  equivalents  at  beginning  of  
    period                                                                                  26,990              42,961
                                                                                                ----------    ----------

  Cash  and  cash  equivalents  at  end  of  the  
    period                                                                                $26,841            $28,746
                                                                                                ==========    ==========

 





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