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PDF Solutions(R) Reports Fourth Quarter And Full Year 2010 Results

SAN JOSE, Calif., Feb. 10, 2011 (GLOBE NEWSWIRE) -- PDF Solutions, Inc. (Nasdaq:PDFS) the leading provider of yield improvement technologies and services for the integrated circuit (IC) manufacturing process life cycle, today announced financial results for its fiscal quarter and year ended December 31, 2010.

Total revenues for the fourth fiscal quarter of 2010 totaled $16.2 million, up 9% from $14.8 million for each of the third fiscal quarter of 2010 and the fourth fiscal quarter of 2009. Gainshare performance incentives revenues totaled $4.9 million, up 12% from $4.3 million for the third fiscal quarter of 2010 and down 14% when compared to $5.6 million for the fourth fiscal quarter of 2009.

Net income for the fourth fiscal quarter of 2010 was $156,000, or $0.01 per basic and diluted share, compared to net income of $50,000, or $0.00 per basic and diluted share, for the third fiscal quarter of 2010, and net loss for the fourth fiscal quarter of 2009 of $(701,000), or $(0.03) per basic and diluted share.

Total revenues for the fiscal year ended December 31, 2010 were $61.7 million, up 27% from $48.4 million for the fiscal year ended December 31, 2009. Gainshare performance incentives revenues for the fiscal year ended December 31, 2010 totaled $18.6 million, up 18% from $15.8 million for the fiscal year ended December 31, 2009.

Net income for the fiscal year ended December 31, 2010 was $227,000, or $0.01 per basic and diluted share, compared to net loss of $(17.5) million, or $(0.66) per basic and diluted share for the fiscal year ended December 31, 2009.

In addition to using GAAP results in evaluating PDF Solutions' business, PDF Solutions' management also believes it is useful to measure results using a non-GAAP measure of net income (loss), excluding stock-based compensation expenses, amortization of acquired technology and other acquired intangible assets, restructuring charges, and their related income tax effects, as applicable. Using this non-GAAP measure, the non-GAAP net income for the fourth fiscal quarter of 2010 totaled $2.2 million, or $0.08 per diluted share, compared to the non-GAAP net income of $1.9 million, or $0.07 per diluted share, for the third fiscal quarter of 2010, and the non-GAAP net income of $1.4 million, or $0.05 per diluted share for the fourth fiscal quarter of 2009. Also, using this non-GAAP measure, the non-GAAP net income for the fiscal year ended December 31, 2010 totaled $7.9 million, or $0.28 per diluted share, compared to a non-GAAP net loss of $(6.9) million, or $(0.26) per diluted share for the fiscal year ended December 31, 2009.

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