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PDF Solutions(R) Reports First Quarter 2013 Results

SAN JOSE, Calif., April 24, 2013 (GLOBE NEWSWIRE) -- PDF Solutions, Inc. ("PDF Solutions" or the "Company") (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 first fiscal quarter ended March 31, 2013.

Total revenues for the first fiscal quarter of 2013 totaled $24.1 million, up 1% from $23.8 million for the fourth fiscal quarter of 2012 and up 17% when compared with total revenues of $20.6 million for the first fiscal quarter of 2012. Gainshare performance incentives revenues totaled $9.3 million, up 28% from $7.2 million for the fourth fiscal quarter of 2012 and up 28% when compared to gainshare performance incentives revenues of $7.3 million for the first fiscal quarter of 2012.

On a GAAP basis, net income for the first fiscal quarter of 2013 was $4.7 million, or $0.16 per basic share and $0.15 per diluted share, compared to net income of $23.9 million, or $0.82 per basic and $0.78 per diluted share, for the fourth fiscal quarter of 2012, which results include the reversal of $19.9 million of the Company's deferred tax asset valuation allowance in such quarter, and net income of $3.5 million, or $0.12 per basic and diluted share, for the first fiscal quarter of 2012.

Cash and cash equivalents were $63.2 million at March 31, 2013 compared to cash and cash equivalents of $61.6 million at December 31, 2012.

Non-GAAP net income for the first fiscal quarter of 2013 was $6.7 million, or $0.22 per diluted share, compared to non-GAAP net income of $7.1 million, or $0.23 per diluted share, for the fourth fiscal quarter of 2012, and non-GAAP net income of $4.6 million, or $0.16 per diluted share for the first fiscal quarter of 2012. EBITDAR for the first fiscal quarter of 2013 was $8.1 million, or $0.26 per diluted share, compared to EBITDAR of $7.9 million, or $0.26 per diluted share, for the fourth fiscal quarter of 2012, and EBITDAR of $4.9 million, or $0.17 per diluted share for the first fiscal quarter of 2012.

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