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Short Take: Avant revenues on upswing

Avant reported revenue of $38.6 million for the third quarter, up from revenue of $27.9 million for the same quarter a year earlier. Avant said it expanded its worldwide customer base and closed several multi-million dollar deals with global electronics and semiconductor companies. But including a write-off of $41.2 million for in-process research and development costs associated with the acquisition of Compass Design Automation, the company reported a net loss of $17.3 million, or 66 cents a share, compared to an income of $5 million, or 18 cents a share, a year ago.

Avant reported revenue of $38.6 million for the third quarter, up from revenue of $27.9 million for the same quarter a year earlier. Avant said it expanded its worldwide customer base and closed several multi-million dollar deals with global electronics and semiconductor companies. But including a write-off of $41.2 million for in-process research and development costs associated with the acquisition of Compass Design Automation, the company reported a net loss of $17.3 million, or 66 cents a share, compared to an income of $5 million, or 18 cents a share, a year ago.