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Axis
Achieves Profitability And Announces Another Record Quarter
Company achieves
profitability with over $3 million in revenue for 4th Quarter 1999
Xcite’s simulation accelerates networking and multimedia systems
designers
Sunnyvale, CA,
USA—January 31, 2000 —Axis Systems, Inc. (Axis), a supplier of the
fastest electronic design automation (EDA) simulation acceleration
solutions today announced that it has achieved yearly profitability
and record revenues of over $3 million for 4th Quarter 1999. (Earlier
this year Axis announced record revenues of over $2 million for
Q2 (8/9/99)).
Axis customers
ordered the Company’s Xcite verification system to simulate, verify
and debug systems-on-chip (SoC) design functionality for networking
and multimedia applications.
In Q4, Cisco
Systems (Nasdaq: CSCO) and Sony Electronics (NYSE: SNE) ordered
additional Xcite systems. Chameleon Systems and Vweb among others
became new customers.
Mike Tsai, President
and CEO of Axis, said, "We are very pleased to have outstanding
companies like Cisco and Sony as continuing customers and to add
Chameleon Systems and Vweb to our customer list. They are helping
us develop better design verification products, as well as contributing
to expanding our presence in the worldwide simulation acceleration
market.”
Tsai added,
“In 1999, our product goals included expanding Xcite’s capacity
to 10 million gates, improving performance and providing advanced
debugging tools. We have delivered according to our product goals
and exceeded our revenue targets. Year 2000 will be another exciting
year for Axis Systems”
Axis Grows in
1999
In 1999 Axis
opened offices in Austin and Boston (see related press release today)
and signed Marubeni as its distribution partner in Japan. The Company
also doubled its staff and the size of its facilities in Sunnyvale,
CA.
In 1999, the
Company’s customer list grew to include industry leaders in the
networking and multimedia arena such as Chameleon Systems, Cisco,
Hitachi, Ltd., Silicon Spice, Sony, Toshiba America and Vweb.
About Xcite’s
fast simulation acceleration
Xcite represents
of a new class of design verification tools that take advantage
of ReConfigurable Computing (RCC) co-processors coupled with functional
verification and debugging software to improve design simulation,
verification and debugging throughput of 100 to 1000 times over
software only simulation approach. Xcite addresses behavioral, RT
and gate-level simulation and verification of million-gate plus
designs.
Xcite is used
for simulations of up to 10 million gates and fits directly inside
or along side a Sun™ Microsystems Ultra 60 or Ultra 80 workstation
and connects to its PCI backplane.
Xcite has been
shipping since October 1998.
About Axis
Axis Systems,
Inc. is a technology leader in the simulation acceleration market.
Founded in 1996, the company offers breakthrough technologies and
high-speed simulation acceleration for verification of electronic
systems and systems-on-a-chip designs.
Axis is headquartered
at 209 Java Drive, Sunnyvale, CA 94089, 408-588-2000, FAX: 408-588-1662,
, www.axiscorp.com.
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