Profitability for MatrixOne

MatrixOne has announced results for its fourth quarter and fiscal year ended July 3, 2004.

MatrixOne has announced results for its fourth quarter and fiscal year ended July 3, 2004.

For the fourth quarter ended July 3, 2004, total revenues were $30.0 million, compared to $26.3 million in the same period last year.

For the fourth quarter, net income was $0.4 million, or $0.01 per share, compared to a net loss of $3.7 million, or $0.08 per share, in the same period last year.

For the fourth quarter ended July 3, 2004, pro forma net income, which excludes restructuring charges, was $0.3 million, or $0.01 per share, compared to a pro forma net loss, which excludes stock-based compensation and restructuring charges, of $3.3 million, or $0.07 per share, in the same period last year.

For the fiscal year ended July 3, 2004, total revenues were $109.1 million, compared to $109.4 million in the prior fiscal year.

For the fiscal year ended July 3, 2004, net loss was $16.2 million, or $0.33 per share, compared to a net loss of $24.5 million, or $0.52 per share, in the prior fiscal year.

For the fiscal year ended July 3, 2004, pro forma net loss, which excludes stock-based compensation, restructuring charges and asset impairment and disposal charges, was $12.2 million, or $0.25 per share, compared to a pro forma net loss, which excludes stock-based compensation and restructuring charges, of $17.9 million, or $0.38 per share, in the prior fiscal year.

"We are very pleased to report that as a result of solid revenue growth and continued cost controls, we were able to achieve profitability and return the Company to positive cash flow in the fourth quarter.

We are equally excited by the growing strength and adoption of our solutions as reflected in the fourth quarter with key strategic customer wins at leading global innovators such as NCR, Nortel Networks and Texas Instruments," said Mark F.

O'Connell, President and Chief Executive Officer of MatrixOne.

"We look forward to building on this progress in our new fiscal year, as we focus on extending our leadership position in the PLM market and continuing our commitment to profitable growth." The following milestones were completed or announced since MatrixOne's third quarter earnings release on April 28, 2004: During the fourth quarter, MatrixOne recognised revenue from a number of the world's most innovative companies, including Alcatel Shanghai Bell, a global communications solutions provider; American Standard Companies, a global manufacturer of air conditioning systems and services, bath and kitchen products, and vehicle control systems; Boeing Australia, Ltd., a wholly-owned subsidiary of The Boeing Company and a high technology aerospace enterprise specialising in design, installation and support of key defence and commercial systems and the development and application of complex systems support and defence communications solutions; Grupo Bocar, a Mexico-based tier one supplier of aluminum die casting and plastic injection molding components to the global automotive industry; NCR Corporation, a leading global technology company helping businesses build stronger relationships with their customers; Nortel Networks, an industry leader and innovator focused on transforming how the world communicates and exchanges information; Raytheon Australia Pty Ltd, a mission systems integrator in sea, land, air and office environments; and Texas Instruments, the world leader in digital signal processing and analog technologies, the semiconductor engines of the Internet age.

MatrixOne entered into a definitive agreement to acquire privately-held Synchronicity Software, in a transaction expected to close on August 4, 2004.

Synchronicity, a Massachusetts-based company, is a leading provider of electronic design management, team collaboration and intellectual property reuse solutions for the global electronics industry.

With the acquisition, MatrixOne is expected to add approximately 120 electronics industry customers, compelling new solutions for semiconductor and electronics design management, and significant domain expertise in the electronics industry.

Synchronicity customers include Cypress Semiconductor, Fujitsu, Hitachi, Infineon Technologies, Intel, LSI Logic, Micron, Motorola, NEC Corporation, Nortel Networks, ON Semiconductor, Philips Semiconductor, STMicroelectronics, PMC-Sierra, Qualcomm and Toshiba Corporation.

MatrixOne demonstrated the strength of its leadership position in the global electronics market at the 41st Annual Design Automation Conference (DAC) which was held June 6-9 in San Diego, California.

Members of the MatrixOne management team presented at the Synchronicity Customer Advisory Board and trade booth to highlight the acquisition of Synchronicity by MatrixOne and the power of their combined solutions for electronics designers across a variety of industrial markets.

In addition, MatrixOne solutions were showcased in the Intel booth as part of the recently introduced Mobile Engineering Platform which leverages key technologies from MatrixOne, Intel, IBM and Cadence Design Systems.

Finally, members of the management teams of MatrixOne and Cadence hosted customer meetings and demonstrations to preview the Cadence Allegro Design Workbench, a new family of products based on advanced MatrixOne technology.

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