Magma reveals fourth-quarter results

Magma Design Automation, a provider of chip-design software, has reported revenue of $33.6m (£23.1m) for its fourth quarter ended 2 May 2010.

Magma reported a GAAP net loss of $0.7m, or $0.01 per share, for the quarter, compared with a net loss of $9.9m, or $0.21 per share, for the year-ago fourth quarter.

Magma’s non-GAAP net income was $3.7m, or $0.07 per share, which compares with non-GAAP net income of $3.3m, or $0.07 per share, for the year-ago fourth quarter.