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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
OCTOBER 16, 1997
Date of report (Date of earliest event reported)
ANALOGY, INC.
(Exact name of registrant as specified in its charter)
OREGON 0-27752 93-0892014
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation or organization) Identification No.)
9205 SW GEMINI DRIVE
PORTLAND, OREGON 97008
(Address of principal executive offices and zip code)
503-626-9700
(Registrant's telephone number including area code)
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ITEM 5. OTHER EVENTS
On October 16, 1997 Analogy, Inc. (the "Company") issued a press release
containing information about the Company's financial results for the quarter and
the six months ended September 30, 1997. The press release is included herein as
Exhibit 99.2.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99.2 Press Release
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Dated: October 16, 1997
ANALOGY, INC.
By: /S/ TERRENCE A. RIXFORD
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Terrence A. Rixford
Vice President, Finance and Administration
(Principal Financial Officer)
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EXHIBIT 99.2
PRESS RELEASE
FOR IMMEDIATE RELEASE
For further information, contact:
Terry Rixford Fletcher Chamberlin
Vice President, Finance and Administration Investor Relations
Analogy, Inc. Harris Massey Herinckx
(503) 626-9700 (503) 295-1922
ANALOGY REPORTS 36% REVENUE GROWTH AND RECORD EARNINGS IN FISCAL SECOND QUARTER
Beaverton, Oregon - October 16, 1997 -- Analogy, Inc. (NASDAQ:ANLG) today
announced its financial results for the second fiscal quarter ended September
30, 1997. Revenues increased by 36% from the second quarter a year ago, and net
income was the highest of any quarter in the company's history.
Total revenue for the second quarter of fiscal 1998 was $7,142,000, compared
with $5,259,000 for the second quarter of fiscal 1997. Product license revenue
increased 34% to $3,870,000, and service and other revenue increased 38% to
$3,272,000. Net income in the second quarter of fiscal 1998 was $317,000,
compared with a net loss of $932,000 in the second quarter a year ago. Net
income per share for the 1998 second fiscal quarter was $0.03 based on a
weighted average of 9,808,000 shares outstanding. The fiscal 1997 second
quarter loss per share was $0.11, based on a weighted average of 8,356,000
shares outstanding.
"We are very pleased with the improved profitability achieved in the quarter,"
said Gary Arnold, chairman and president of Analogy. "This quarter's growth was
fueled by continued good customer acceptance of our new SaberDesigner suite of
products for the Windows NT operating system and by continued broadening of our
customer base. Our net income set a record as our revenue growth in the quarter
significantly increased in comparison with the relatively small increase in
expenses."
Analogy, Inc. is a world leader in the development of high-performance design
and analysis software and model libraries for the design of mixed-signal and
mixed-technology systems. The company's products are used in the aerospace,
automotive/transportation, semiconductor, telecommunications, computer
peripherals, medical and industrial control industries. Analogy has offices and
support staff throughout the United States, Europe and Asia and is headquartered
in Beaverton, Oregon. For on-line information, visit the company's web site at:
http//www.analogy.com.
(tables follow)
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ANALOGY, INC.
Consolidated Income Statement
(000, except per share data)
<TABLE>
<CAPTION>
QUARTER ENDED SIX MONTHS ENDED
9/30/97 9/30/96 9/30/97 9/30/96
<S> <C> <C> <C> <C>
Product license revenue $ 3,870 $ 2,882 $ 7,395 $ 5,553
Service and other 3,272 2,377 5,733 4,422
Total revenue 7,142 5,259 13,128 9,975
Cost of product license revenue 429 374 980 751
Cost of service and other revenue 952 525 1,536 1,011
Total cost of revenue 1,381 899 2,516 1,762
Gross profit 5,761 4,360 10,612 8,213
Research and development 1,192 1,278 2,703 2,640
Sales and marketing 3,267 3,015 6,416 5,752
General and administrative 848 682 1,608 1,357
Total operating expenses 5,307 4,975 10,727 9,749
Operating income (loss) 454 (615) (115) (1,536)
Other income (expense), net (31) (1) (6) 9
Income (loss) before income tax 423 (616) (121) (1,527)
Income tax expense (benefit) 106 316 (28) 114
Net income (loss) $ 317 $ (932) $ (93) $(1,641)
Net income (loss) per share $ 0.03 $ (0.11) $ (0.01) $ (0.20)
Weighted average shares outstanding 9,808 8,356 9,149 8,334
</TABLE>
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ANALOGY, INC.
Consolidated Balance Sheet
(000)
9/30/97 3/31/97
Cash and cash equivalents $ 3,113 $ 1,827
Marketable securities - 1,697
Accounts receivable, net 8,138 9,161
Prepaid expenses 1,060 886
Other assets 554 455
Total current assets 12,865 14,026
Furniture, fixtures and equipment, net 4,109 4,280
Library costs, net 3,248 2,729
Other assets, net 919 1,095
Total assets $ 21,141 $ 22,130
Accounts payable 845 1,301
Current portion of capital leases 334 566
Accrued salaries and benefits 2,001 2,095
Accrued expenses - 181
Unearned revenue 5,634 5,812
Total current liabilities 8,814 9,955
Non-current portion of capital leases 544 499
Other liabilities 347 359
Total long-term liabilities 891 858
Common stock 17,355 17,124
Foreign currency translation (174) (155)
Accumulated deficit (5,745) (5,652)
Total shareholders' equity 11,436 11,317
Total liabilities and equity $ 21,141 $ 22,130
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