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October 4, 1998

QUICKTURN TALKS UP RESULTS AMID TAKEOVER STRUGGLE

By CBR Staff Writer

Quickturn Design Systems says it expects to report net income for the third quarter, before legal expenses, of approximately $600,000, or $0.03 per share, compared to Wall Street estimates of a loss of $0.02 per share. Revenues will amount to roughly $25.5m. Expenses directly related to the company’s defense of the hostile takeover attempt by Mentor Graphics Corp will total about $4.0m for the quarter, or $0.12 per share. The company says several key customers have begun to reinvest in design and verification and that, entering the fourth quarter, it has the strongest backlog it’s had all year. It is still urging shareholders not to tender their shares to Mentor or to side with the unwanted suitor on replacing the company’s board through a vote. The promise of a strong quarter undoubtedly comes in an effort to win the confidence of shareholders as the struggle continues. Quickturn will release the full earnings report on October 13.

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