Innoveda Performance Exceeds Consensus Street Estimates
Company's Financial Performance, Strategies To Be Reviewed
At Needham Growth Conference In New York
MARLBORO, Mass., Jan. 9, 2002 - Innoveda, Inc. (Nasdaq:INOV), a leading provider of innovative software and services for the design of advanced electronic products, today announced it expects to report approximately $22 million in revenue and approximately $2.6 million of operating income, before amortization, for the fourth quarter of 2001, exceeding consensus street estimates. The announcement is based on a preliminary review of Innoveda's financial results, in anticipation of a corporate presentation by William J. (Will) Herman, president and chief executive officer, and Kevin O'Brien, chief financial officer, on Jan. 10 at the fourth annual Needham Growth Conference, at the New York Palace Hotel. They will provide institutional investors with a review of Innoveda's financial performance, strategies and markets. These financial results are not final and currently are being audited by Innoveda's independent auditors and are subject to adjustment. Innoveda plans to issue its final financial results for the fourth quarter on Jan. 28.
A live Webcast of Innoveda's presentation will be available at http://www.innoveda.com/ beginning at 3:30 p.m. EST on Jan. 10, and the presentation will be archived at that site. An interview by Herman also will be included in a conference edition book being prepared by The Wall Street Transcript.
About Innoveda
Innoveda, Inc. (Nasdaq "INOV") is a worldwide leader in electronic design automation (EDA) technology, software and services for successful businesses in the telecommunications, consumer electronics, computer, automotive and aerospace industries. The company's innovative solutions are intended to empower people for mission-critical areas of the design process. Headquartered in Marlboro, Mass., Innoveda has sales offices and research centers worldwide. Additional information can be found at: http://www.innoveda.com/
Forward-Looking Statements
This press release includes forward-looking statements that are subject to a number of risks and uncertainties. All statements, other than statements of historical facts, included in this press release including, without limitation, statements regarding Innoveda's financial projections for any period, strategy, future operations, financial position, prospects, plans, goals and objectives of management are forward-looking statements. When used in this press release, the words "will", "believe", "anticipate", "intend", "estimate", "expect", "project", "plan", "preliminary" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We cannot guarantee future results, levels of activity, performance or achievements, and you should not place undue reliance on our forward-looking statements. Our forward-looking statements do not reflect the potential impact of any future transactions or strategic alliances. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors, including the availability of financial resources, the ability of Innoveda to successfully integrate its business combinations, recent economic uncertainty, weakness in the business of our customers, Innoveda's ability to develop new products and market acceptance of those products, the cyclical nature of the electronics industry, the failure of Innoveda's quarterly results to meet market expectations, the impact of financial charges related to business combinations, the intense competition Innoveda faces, and the other risks described in Innoveda's annual report on Form 10-K for the fiscal year ended December 30, 2000 as filed with the Securities and Exchange Commission on March 30, 2001, Innoveda's most recent quarterly report on Form 10-Q and the other public filings made by Innoveda with the SEC, which factors are incorporated herein by reference.
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Investor Contact:
Kevin O'Brien
Vice President, Finance and Chief Financial Officer
(508) 303-5253
Innoveda Investor Relations
(508) 303-5507
Editorial Contact:
Sarah Miller
(508) 303-5254
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