Magma Design Automation 8-K 2005
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 7, 2005
MAGMA DESIGN AUTOMATION, INC.
(Exact name of Registrant as Specified in Its Charter)
(State or other jurisdiction of incorporation)
(Registrants telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
On April 7, 2005, Magma Design Automation, Inc. (Magma) issued a press release reporting its preliminary results for the quarter ended March 31, 2005 and revising its financial outlook for fiscal year 2006 (ending April 2, 2006). The press release is furnished herewith as Exhibit 99.1.
The press release includes Magmas estimated revenue for the quarter ended March 31, 2005, estimated non-GAAP earnings per share for that quarter and estimated loss per share on a GAAP basis and preliminary projected revenue, operating margin and non-GAAP earnings per share and GAAP loss per share for fiscal year 2006. Magmas adjustments to GAAP in calculating non-GAAP earnings per share eliminate the effects of amortization of intangibles and acquired technology, asset special write-offs and other loss contingencies, and amortization of deferred stock-based compensation.
Magma has provided the non-GAAP financial information included in the press release in order to enhance the users overall understanding of Magmas financial performance and prospects. Magma believes that this non-GAAP information provides useful information to investors by excluding the effect of expenses that are required to be recorded under GAAP that Magma does not believe are indicative of Magmas core operating results. In addition, because Magma has historically provided non-GAAP results to the investment community, Magma believes that including this information provides consistency in its financial reporting. However, this non-GAAP financial information should be considered supplemental to, and not a substitute for or superior to, Magmas reported results prepared in accordance with GAAP, which are also included in the press release.
The following exhibit is furnished herewith:
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.