Magma Desigh Automation

NASDAQ: LAVA Founded: 1997 IPO: 2001
Chairman & CEO: Rajeev Madhavan

San Mateo, CA based Magma Design Automation is a provider of electronic design automation (EDA) software and design services.

For the fiscal year ended March 31, 2005, Magma reported revenue of $145.9 million, compared to $113.7 million for the fiscal year ended March 31, 2004, an increase of 28 percent. In accordance with GAAP, Magma reported net loss of $8.6 million for the recently completed fiscal year, compared to net income of $11.5 million for the fiscal year ended March 31, 2004.

“Our fiscal 2005 revenue was another annual record and our bookings in the most recent quarter was also the best in Magma history. With the work our product teams have put into our Cobra development project, we’re looking forward to even greater accomplishments in fiscal 2006,” said Rajeev Madhavan, chairman and CEO of Magma.

The Cobra initiative was part of a massive R&D effort that combined internal Magma development with technology from 11 startups. It has developed new technology in areas like integrated routing and optimization, statistical timing analysis, extraction, fast design rule checking (DRC), and yield optimization. As part of the Cobra initiative, the company has introduced a new design flow intended to speed IC design at 90 and 65 nm geometries.