Synplicity Announces First Quarter 2006 Results


Synplicity is a registered trademark of Synplicity, Inc. All other brands or products are the trademarks or registered trademarks of their owners.

                           SYNPLICITY, INC.
                      CONSOLIDATED BALANCE SHEETS
                            (in thousands)


                                            March 31,     December 31,
                                               2006          2005 (1)
                                           -----------  --------------
                                           (unaudited)
Assets:
Current assets:
    Cash, cash equivalents and short-term
     investments                              $58,822         $57,099
    Accounts receivable, net                   11,164          12,632
    Other current assets                        1,942           2,372
                                           -----------  --------------
        Total current assets                   71,928          72,103
    Property and equipment, net                 2,585           2,631
    Goodwill                                    1,272           1,272
    Intangible assets, net                      1,851           1,882
    Other assets                                  764             749
                                           -----------  --------------
            Total assets                      $78,400         $78,637
                                           ===========  ==============

Liabilities and Shareholders' Equity:
Current liabilities:
    Accounts payable                              $84            $944
    Accrued liabilities                         1,703           1,461
    Accrued compensation                        3,671           4,031
    Deferred revenue                           20,448          18,355
                                           -----------  --------------
        Total current liabilities              25,906          24,791
Shareholders' equity:
    Common stock                               57,136          58,257
    Additional paid-in capital                  4,321           3,360
    Accumulated deficit                        (8,608)         (7,430)
    Accumulated other comprehensive loss         (355)           (341)
                                           -----------  --------------
        Total shareholders' equity             52,494          53,846
                                           -----------  --------------
            Total liabilities and
             shareholders' equity             $78,400         $78,637
                                           ===========  ==============


(1) Derived from audited financial statements



                           SYNPLICITY, INC.
                 CONSOLIDATED STATEMENTS  OF  OPERATIONS
                                  (in  thousands,  except  per  share  data)
                                                            (unaudited)


                                                                                                        Quarter  Ended
                                                                                                            March  31,
                                                                                                ----------------------
                                                                                                      2006                2005
                                                                                                ----------    ----------
Revenue:
License                                                                                    $  7,131            $7,976
Maintenance                                                                                7,338              6,582
                                                                                                ----------    ----------
                Total  revenue                                                          14,469            14,558
Cost  of  revenue:
Cost  of  license                                                                            115                  132
Cost  of  maintenance                                                                    526                  456
Amortization  of  intangible  assets
  from  acquisitions                                                                      223                  223
                                                                                                ----------    ----------
                Total  cost  of  revenue                                                864                  811
                                                                                                ----------    ----------
Gross  profit                                                                            13,605            13,747
Operating  expenses:  (2)
Research  and  development                                                      6,573              6,081
Sales  and  marketing                                                                6,331              5,758
General  and  administrative                                                  2,124              1,531
Restructuring  charge                                                                  854                    --
                                                                                                ----------    ----------
                  Total  operating  expenses                                  15,882            13,370
                                                                                                ----------    ----------
Income  (loss)  from  operations                                          (2,277)                377
Other  income,  net                                                                        618                  272
                                                                                                ----------    ----------
Income  (loss)  before  income  taxes                                  (1,659)                649
Income  tax  provision  (benefit)                                            (481)                134
                                                                                                ----------    ----------
Net  income  (loss)                                                                $(1,178)          $    515
                                                                                                ==========    ==========
Net  income  (loss)    per  share:
Basic  and  diluted  net  income
  (loss)  per  common  share                                                  $  (0.04)          $  0.02
                                                                                                ==========    ==========
Shares  used  in  basic  per  share
  calculation                                                                            27,016            26,258
                                                                                                ==========    ==========
Shares  used  in  diluted  per  share
  calculation                                                                            28,847            27,874
                                                                                                ==========    ==========


(2)  Includes  stock-based  compensation.  2006  increases  are  due  to  the  
        adoption  of  FAS  123(R),  as  follows:



Cost  of  maintenance                                                            $        23            $      --
Research  and  development                                                          453                      4
Sales  and  marketing                                                                    238                      4
General  and  administrative                                                      247                      1
                                                                                                ----------    ----------
        Total  stock-based  compensation                              $      961            $        9
                                                                                                ==========    ==========




                                                      SYNPLICITY,  INC.
                RECONCILIATION  OF  GAAP  INCOME  (LOSS)  TO  NON-GAAP  INCOME
                                  (in  thousands,  except  per  share  data)
                                                            (unaudited)


Net  Income

                                                                                                          Quarter  Ended
                                                                                                ----------------------
                                                                                                                March  31,
                                                                                                ----------------------
                                                                                                      2006                  2005
                                                                                                ----------      ---------

  GAAP  net  income  (loss)                                                    $(1,178)              $515
  Amortization  of  intangible  assets
              from  acquisitions                                                          223                  223
    Stock-based  compensation                                                      961                      9
    Restructuring  charge                                                              854                    --
                                                                                                ----------      ---------
  Non-GAAP  net  income  (3)                                                        $860                $747
                                                                                                ==========      =========
  Non-GAAP  net  income  per  share:
  Non-GAAP  net  income  per  common  share                            $0.03              $0.03
                                                                                                ==========      =========
  Shares  used  in  non-GAAP  per  share
    calculation                                                                          28,847            27,874
                                                                                                ==========      =========


(3)  The  non-GAAP  calculations  of  net  income  and  net  income  per  share  
include  the  income  tax  benefit  of  $481,000  from  the  Statement  of
Operations  for  the  quarter  ended  March  31,  2006.  If  the  income  tax
benefit  were  excluded  from  the  non-GAAP  computation  of  net  income  and
net  income  per  share  and  the  items  noted  above  were  taxed  at  the  rate
the  Company  is  projecting  for  the  full  year,  the  non-GAAP  net  income
would  have  been  $268,000  or  $0.01  per  share.


Forward-Looking  Net  Income  per  Share
                                                                                                      
                                                                                  Quarter  Ending      Year  Ending
                                                                                        June  30,            December  31,
                                                                                            2006                      2006
                                                                                  ---------------  -------------

  GAAP  net  income  per  share                                    $0.03-$.05        $0.10-$.15
  Amortization  of  intangible  assets  from
    acquisitions                                                                    $0.01                  $0.03
  Restructuring  charge                                                      $0.00                  $0.03
  Stock-based  compensation                                              $0.03        $0.12-$0.13
                                                                                  ---------------  -------------
  Non-GAAP  net  income  per  share                          $0.07-$0.09      $0.28-$0.34
                                                                                  ===============  =============

 





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