Exhibit 99.2
NEWS RELEASE
Investor Relations Contact: Corporate Communications Contact:
Rochelle Krause Mana Uchino
PDF Solutions, Inc. PDF Solutions, Inc.
Tel: (408) 938-6437 Tel: (408) 938-6483
Email: rochelle.krause@pdf.com Email: mana.uchino@pdf.com
PDF SOLUTIONS, INC. PROVIDES FINANCIAL OUTLOOK FOR THE
SECOND QUARTER OF FISCAL 2003
SAN JOSE, Calif. -- April 24, 2003 -- PDF Solutions, Inc. (Nasdaq: PDFS),
the leading provider of semiconductor process-design integration technologies
and services, today provided its financial outlook for the second fiscal quarter
ending June 30, 2003.
PDF Solutions expects total revenue in the range of $10.0 million to $10.5
million for the second fiscal quarter ending June 30, 2003. Pro forma net loss
for the second fiscal quarter of 2003, excluding amortization of stock-based
compensation and intangibles, is projected in a range of $50,000 to $550,000, or
breakeven to $0.02 per diluted share.
Reported net loss, on a GAAP basis, is projected in a range of $425,000 to
$925,000, or $0.02 to $0.04 per diluted share.
As previously announced, the company will hold a live conference call
beginning at 3:00 p.m. PDT/6:00 p.m. EDT today to discuss this outlook. A live
webcast of this teleconference will be available on the company's website at
http://ir.pdf.com/medialist.cfm. A replay of the call will be available at the
same website address following the call. Further, a copy of this press release,
including the disclosure and reconciliation of certain non-GAAP financial
measures to the most directly comparable GAAP measure, which non-GAAP measures
may be used periodically by the company's management when discussing our
financial results and outlook with investors and analysts, will be available on
the company's website at http://www.pdf.com/news_archive.phtml following the
date of this release.
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EFFECTIVENESS OF GUIDANCE
The outlook set forth above represents PDF Solutions' expectations only as
of the date of this release, and should not be viewed as a statement about PDF
Solutions' expectations after this date. Although this release will remain
available on PDF Solutions' website, its continued availability does not
indicate that PDF Solutions is reaffirming or confirming its continued validity.
PDF Solutions does not intend to report on its progress, or provide comments to
analysts or investors on or otherwise update such guidance until it releases its
quarterly results.
ABOUT PDF SOLUTIONS
PDF Solutions, Inc. (Nasdaq: PDFS) is the leading provider of
process-design integration technologies for integrated circuits (ICs). PDF's
software, methodologies and services enable semiconductor companies to create
more manufacturable IC designs and more capable manufacturing processes. By
simulating deep sub-micron product and process interactions, the PDF solution
offers clients reduced time to market, increased IC yield and performance, and
enhanced product reliability and profitability. Headquartered in San Jose,
California, PDF operates worldwide with additional offices in Europe and Japan.
For more information, visit www.pdf.com.
PDF Solutions(R) is a registered trademark of PDF Solutions, Inc.
FORWARD-LOOKING STATEMENTS
Some of the statements in this press release are forward looking, including the
statements regarding PDF's 2003 Second Fiscal Quarter Outlook, the expected
growth in revenue, the pro forma net loss and pro forma net loss per share and
the reported net loss and net loss per share. The words "estimate", "project",
"expect", "believe" and similar expressions also identify forward-looking
statements. Actual results could differ materially from those expressed in any
forward-looking statements. Risks and uncertainties that could cause results to
differ materially include risks associated with: any unforeseen industry
changes; difficulties in modifying PDF's solutions on a timely basis; and
changes in the marketplace for our solutions, including the introduction of
products or services competitive with PDF's products and services. Readers
should also refer to the risk disclosures set forth in PDF's Report on Form 10-K
filed with the SEC on March 23, 2003. The forward-looking statements contained
in this release are made as of the date hereof, and PDF does not assume any
obligation to update such statements nor the reasons why actual results could
differ materially from those projected in such statements.
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PDF SOLUTIONS, INC.
RECONCILIATION OF PROJECTED REPORTED GAAP NET LOSS TO
PROJECTED PRO FORMA NET LOSS
(IN THOUSANDS, EXCEPT PER SHARE DATA)
THREE MONTHS ENDING
PROJECTED RESULTS JUNE 30, 2003
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Net loss per share - diluted............... $ (0.02) to $ (0.04)
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Net loss................................... $ (425) to $ (925)
Stock-based compensation amortization...... 350 350
Amortization of intangibles, net........... 25 25
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Pro forma net loss......................... $ (50) to $ (550)
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Pro forma net loss per share - diluted..... $ (0.00) to $ (0.02)
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Weighted average common shares - diluted... 22,750 22,750
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