Release: April 2000 1:30 P.M. ACTEL ANNOUNCES RECORD QUARTERLY RE

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Release: April 2000 1:30 P.M. ACTEL ANNOUNCES RECORD QUARTERLY RE

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Contact: Hank Perret, Actel Corporation (408) 522-4542
Release: April 2000 1:30 P.M.
ACTEL ANNOUNCES RECORD QUARTERLY REVENUES PROFITS
Sunnyvale, Calif. Actel Corporation (NASDAQ: ACTL) today announced record financial results first quarter 2000.
first quarter 2000, revenues were record $50.7 million, compared with $46.0 million prior quarter $40.8 million first quarter year ago. This represents increase percent from prior quarter percent from first quarter year ago. sequential sales growth percent included gains percent Europe, percent North America, percent Asia. product revenue increased percent over prior quarter represented percent total.
income first quarter, excluding goodwill amortization other acquisitionrelated charges, record $9.1 million, cents share. This compares with $7.3 million, cents share, prior quarter $4.6 million, cents share,
ACTEL CORPORATION 2000 EARNINGS RELEASE
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first quarter year ago. This represents increase income percent from prior quarter percent from first quarter year ago.
Including goodwill amortization acquisition-related charges, income first quarter record $8.1 million, cents share. This compares with $5.8 million, cents share, prior quarter $4.2 million, cents share, first quarter year ago. This represents increase income percent from prior quarter percent from first quarter year ago.
Gross margin improved first quarter record 62.1 percent, representing basis point improvement from prior quarter. Before effects goodwill amortization other acquisition-related charges, operating income first quarter $11.6 million, percent revenue. This represents percent increase operating income from prior quarter percent increase from first quarter year ago.
John East, president CEO, stated, "We're extremely pleased with financial results first quarter. achieved record revenues while continuing increase backlog. family continued impressive growth with second consecutive quarter shipments excess million units, revenue family more than doubled from prior
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quarter. Gross margin improvements continued spending controls allowed income grow percent over last quarter."
Actel designs, develops, markets FPGAs (field programmable gate arrays) associated design development software programming hardware. FPGAs used designers communications, computer, consumer internet-appliance, industrial, military/aerospace, other electronic systems differentiate their products them market faster. Actel leading supplier FPGAs based antifuse technology introduced ProASIC family reprogrammable FPGAs based flash technology. company also offers system-level design, prototyping, consulting services through Protocol Design Services Group. Actel's strategy Programmable ASIC Solutions Company, complete solution provider programmable ASIC (application specific integrated circuit) systems. company traded Nasdaq National Market under symbol ACTL located East Arques Avenue, Sunnyvale, California, 94086-4533. Telephone: 888-99-ACTEL (992-2835). Internet: http://www.actel.com.
Actel's operating results subject multitude risks that could cause actual results differ materially from past projected performance, including general economic conditions variety risks specific Actel characteristic semiconductor industry, such fluctuating demand, intense competition, rapid technological change
ACTEL CORPORATION 2000 EARNINGS RELEASE
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related intellectual property international trade issues, wafer other supply shortages, booking shipment uncertainties. discussion these other factors that could have materially adverse effect Actel's operating results, please "Risk Factors" Actel's most recent Forms 10-K 10-Q, which will provided free charge upon request.
Editor's Note: Actel name logo registered trademarks Actel Corporation. other trademarks servicemarks property their respective owners.
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ACTEL CORPORATION CONSOLIDATED STATEMENTS OPERATIONS (unaudited, thousands except share amounts)
Three Months Ended Apr. Apr. Jan. 2000 1999 2000 revenues. 50,666 Costs expenses: Cost revenues 19,208 Research development. 8,351 Selling, general, administrative 11,529 Amortization goodwill other acquisition-related intangibles 1,023 Purchased in-process research development Total costs expenses 40,111 Income from operations 10,555 Interest income other, 1,182 Income before provision. 11,737 provision 3,638 income 8,099 income share: Basic Diluted. Shares used computation: Basic Diluted. 40,838 46,042 15,994 8,447 10,441 17,496 8,087 11,637 1,047
35,372 38,867 5,466 7,175 1,263 6,207 8,438 1,986 2,615 4,221 5,823
0.36 0.32
0.20 0.19
0.26 0.24
22,767 25,467
21,347 22,673
22,048 24,015
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ACTEL CORPORATION PRO-FORMA INFORMATION EXCLUDING GOODWILL AMORTIZATION ACQUISITION-RELATED, RESTRUCTURING, OTHER CHARGES thousands except share amounts)
following Pro-Forma supplemental information adjusts effect amortization goodwill other acquisition-related charges (including in-process research development) restructuring other charges. goodwill amortization acquisition-related charges deductible income purposes. implications these items have been included determination forma income. This forma information prepared accordance with generally accepted accounting principles. Three Months Ended Apr. Apr. Jan. 2000 1999 2000 Operating costs expenses. 19,880 18,888 19,724 Operating income 11,578 income excluding amortization goodwill other acquisition-related intangibles, purchased in-process research development, restructuring other charges. Basic earnings share excluding amortization goodwill other acquisition-related intangibles, purchased inprocess research development, restructuring other charges Diluted earnings share excluding amortization goodwill other acquisition-related intangibles, purchased in-process research development, restructuring other charges 5,956 8,822
9,084
4,554
7,257
0.40
0.21
0.33
0.36
0.20
0.30
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NOTE: Certain prior amounts have been reclassified conform with current presentation.
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ACTEL CORPORATION CONSOLIDATED BALANCE SHEETS (unaudited, thousands)
Apr. 2000
Jan. 2000
ASSETS Current assets: Cash cash equivalents. 2,791 4,939 Short-term investments 102,201 114,343 Accounts receivable, 22,753 25,753 Inventories. 25,324 26,792 Deferred income taxes other current assets 22,667 23,778 Total current assets. 177,884 193,457 Property equipment, net. 12,564 11,661 Investment foundry 37,619 48,570 Other assets 31,144 29,921 283,609 259,211 LIABILITIES SHAREHOLDERS' EQUITY Current liabilities: Accounts payable 10,995 15,374 Accrued salaries employee benefits 6,884 5,424 Other accrued liabilities 6,912 8,945 Deferred income. 39,896 43,079 Total current liabilities 68,443 69,066 Deferred liability Total liabilities Shareholders' equity. 11,515 15,812 80,581 84,255 178,630 199,354 283,609 259,211

Release: April 2000 1:30 P.M. ACTEL ANNOUNCES RECORD QUARTERLY RE

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