Avant! Corp, the Fremont, California-based chip-design software company, pushed its sales up by 38% in the third quarter, and the company remained profitable despite tough market conditions facing its customers in the semiconductor industry. Net profits rose to $12.5m compared to last year’s losses of $18.3m (last year’s figures show an $8m profit excluding merger expenses) and revenues climbed by 38% to $58.1m. Earnings per share came in at $0.38 for the quarter, two pennies above the consensus of estimates. Chief executive Gerald Hsu said trading had been difficult but he added that he expected earnings for the fourth quarter to be equivalent to, or above the third quarter numbers. A ruling on the injunction taken out by Avant!’s big brother, Cadence Design Systems Inc, regarding the alleged theft of code by Avant! is expected to arrive some time in the current quarter.
