Pro forma diluted earnings per share, excluding merger, in-process research and development expenses and venture capital investment gains/losses, was also a record $0.48, a 16 percent increase over comparable 2000 pro forma earnings per share of $0.41.
Reported diluted earnings per share for the quarter, including merger, in-process research and development expenses and venture capital investment gains/losses, was $0.38, compared to $0.47 last year. Results for the first quarter of 2001 include an unrealized investment loss of $6.1 million, compared to an unrealized investment gain of $6.3 million in the same period last year. As of March 31, 2001, the value of the venture capital investment is approximately $28 million. The original investment of $10 million was made in 1998.
Avant!’s success in the EDA industry is the result of our focus on three fundamental corporate values: customers, technology and people,” said Gerald C. Hsu, chairman, CEO, and president of Avant!. This quarter’s record financial performance in a difficult economic climate is a testament to Avant!’s fundamental business strength.”
