SEC Info - Ikos Systems Inc - ‘10-Q’ for 12/30/95

SEC Info℠

Home

Help

Please Sign In

Ikos Systems Inc – ‘10-Q’ for 12/30/95

As of: Monday, 2/12/96 · For: 12/30/95 · Accession #: 898430-96-410 · File #: 0-18623

  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 2/12/96  Ikos Systems Inc                  10-Q       12/30/95    5:50K                                    Donnelley R R & S… 05/FA

Quarterly Report — Form 10-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                      11     57K 
 2: EX-10.20    Amendment to Oem Agreement                             3     14K 
 3: EX-10.21    Employment Agreement                                   7     31K 
 4: EX-11.1     Computation of Earnings Per Share                      1      5K 
 5: EX-27       Financial Data Schedule                                2      6K

10-Q — Quarterly Report
Document Table of Contents

Page	(sequential)	\|	(alphabetic)	Top
			Alternative Formats (Word, et al.) Exhibits and Reports on Form 8-K Financial Statements Management's Discussion and Analysis of Financial Condition and Results of Operations Not applicable Signatures
1	1st Page - Filing Submission
2	Item 1:. Financial Statements
7	Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
9	Items 1-5. Not applicable
"	Item 6. Exhibits and Reports on Form 8-K
11	Signatures

10-Q 1st Page of 11 TOC ↑Top Previous Next ↓Bottom Just 1st
 
================================================================================

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

--------------------  

FORM 10-Q 

(Mark One)                                                                      
[X]  Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934 for the quarter ended December 30, 1995 or                          
[_]  Transition Report Pursuant to Section 13 or 15(d) of the Securities        
Exchange Act of 1934 for the transition period from __________ to __________    

COMMISSION FILE NUMBER 0-18623                                                  

--------------------  

IKOS SYSTEMS, INC.  
(Exact name of registrant as specified in its charter)  

          DELAWARE                                          77-0100318
  (State or other jurisdiction of                           (I.R.S. Employer
     incorporation or organization)                          Identification No.)

19050 PRUNERIDGE AVE., CUPERTINO, CA                             95014      
(Address of principal executive offices)                        (zip code)      

REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: 
(408) 255-4567  

Indicate by check mark whether the registrant (1) has filed all reports   
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of   
1934 during the preceding 12 months (or for such shorter period that the        
registrant was required to file such reports), and (2) has been subject to such 
filing requirements for the past 90 days.  Yes   X      No                      
                               -----       -----

  Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.                                

COMMON STOCK $.01 PAR VALUE                               7,052,000           
---------------------------                               ---------           
      (Title of Class)                     (Outstanding as of December 30, 1995)

=============================================================================== 

10-Q 2nd Page of 11 TOC 1st Previous Next ↓Bottom Just 2nd
IKOS SYSTEMS, INC.
FORM 10-Q 
QUARTER ENDED DECEMBER 30, 1995 

INDEX 
----- 

                                                                [Download Table]

                                                                        PAGE
                                                                            
Part I:   Financial Information                                             

          Item 1: Financial Statements                                      

                  Consolidated Balance Sheets at                            
                    December 30, 1995 and September 30, 1995...........   3 

                  Consolidated Statements of Income                         
                    for the three months ended                              
                    December 30, 1995 and December 31, 1994............   4 

                  Consolidated Statements of Cash Flows                     
                    for the three months ended                              
                    December 30, 1995 and December 31, 1994............   5 

                  Notes to Consolidated Financial Statements...........   6 

          Item 2: Management's Discussion and Analysis                      
                    of Financial Condition and Results of Operations...   8 

Part II:  Other Information                                                 

          Item 6: Exhibits and Reports on Form 8-K.....................  10 

          Signatures...................................................  12 

2 

10-Q 3rd Page of 11 TOC 1st Previous Next ↓Bottom Just 3rd
PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS                                                    

IKOS SYSTEMS, INC.
CONSOLIDATED BALANCE SHEETS 
(in thousands, except per share amounts)

                                                        [Enlarge/Download Table]


                                                               December 30,   September 30, 
                                                                   1995            1995     
                                                               -------------  --------------
                                                               (Unaudited)        (1)       
                                                                                            
                       ASSETS                                                               
Current assets:                                                                             
 Cash and cash equivalents....................................     $ 16,459        $  7,305 
 Short-term investments.......................................        5,505             450 
 Accounts receivable (net of allowances for                                                 
  doubtful accounts of $196 and $171, respectively)...........        3,813           6,046 
 Inventories..................................................        1,637           1,328 
 Prepaid expenses and other current assets....................          131             271 
                                                                   --------        -------- 
   Total current assets.......................................       27,545          15,400 
Equipment and leasehold improvements:                                                       
 Office and evaluation equipment..............................        2,879           2,730 
 Machinery and equipment......................................        5,025           4,985 
 Leasehold improvements.......................................          305             287 
                                                                   --------        -------- 
                                                                      8,209           8,002 
   Less allowances for depreciation and amortization..........       (6,319)         (6,363)
                                                                   --------        -------- 
                                                                      1,890           1,639 
Other assets..................................................          114             113 
                                                                   --------        -------- 
                                                                   $ 29,549        $ 17,152 
                                                                   ========        ======== 

        LIABILITIES AND STOCKHOLDERS' EQUITY                                                
Current liabilities:                                                                        
 Accounts payable.............................................     $  2,294        $  1,613 
 Accrued payroll and related expenses.........................        1,217           1,195 
 Accrued commissions..........................................          168             697 
 Income taxes payable.........................................          226             188 
 Other accrued liabilities....................................          166             480 
 Deferred maintenance revenues................................        3,844           3,030 
 Current portion of long-term debt............................          676             688 
                                                                   --------        -------- 
   Total current liabilities..................................        8,591           7,891 

Long-term debt, less current portion..........................        1,106           1,300 
Accrued rent..................................................          251             251 

Stockholders' equity:                                                                       
 Preferred stock, $.01 par value; 10,000 shares authorized,                                 
  none issued or outstanding..................................           --              -- 
 Common stock, $.01 par value; 25,000 shares authorized,                                    
  7,052 and 5,886 issued and outstanding, respectively........           71              59 
 Additional paid-in capital...................................       37,538          27,034 
 Accumulated deficit..........................................      (18,008)        (19,383)
                                                                   --------        -------- 
   Total stockholders' equity.................................       19,601           7,710 
                                                                   --------        -------- 
                                                                   $ 29,549        $ 17,152 
                                                                   ========        ======== 

(1) These amounts have been derived from audited financial statements           

See notes to consolidated financial statements. 

3 

10-Q 4th Page of 11 TOC 1st Previous Next ↓Bottom Just 4th
IKOS SYSTEMS, INC.
CONSOLIDATED STATEMENTS OF INCOME 
(in thousands, except per share amounts)
(Unaudited) 

                                                                [Download Table]


                                                  Three Months Ended      
                                             -----------------------------
                                             December 30,    December 31, 
                                                 1995            1994     
                                             -------------   -------------
                                                                          
Net revenues:                                                             
  Product...............................         $7,639          $5,030   
  Maintenance...........................          1,638           1,078   
                                                 ------          ------   
       Total net revenues...............          9,277           6,108   

Cost of revenues:                                                         
  Product...............................          1,917           1,314   
  Maintenance...........................            219             330   
                                                 ------          ------   
       Total cost of revenues...........          2,136           1,644   
                                                 ------          ------   

Gross profit............................          7,141           4,464   

Operating expenses:                                                       
  Research and development..............          1,541             919   
  Sales and marketing...................          3,494           2,582   
  General and administrative............            689             483   
                                                 ------          ------   
       Total operating expenses.........          5,724           3,984   
                                                 ------          ------   

Income from operations..................          1,417             480   

Other income (expense):                                                   
  Interest income.......................            197              23   
  Interest expense......................            (18)            (38)  
  Other income..........................             29              29   
                                                 ------          ------   
       Total other income...............            208              14   
                                                 ------          ------   

Income before income taxes..............          1,625             494   

Provision for income taxes..............            250              46   
                                                 ------          ------   
Net income..............................         $1,375          $  448   
                                                 ======          ======   

Net income per share....................         $ 0.18          $ 0.08   
                                                 ======          ======   

Common and common equivalent shares                                       
  used in computing per share amounts...          7,519           5,783   
                                                 ======          ======   

See notes to consolidated financial statements. 

4 

10-Q 5th Page of 11 TOC 1st Previous Next ↓Bottom Just 5th
IKOS SYSTEMS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS 
Increase (decrease) in cash and cash equivalents in thousands 
(Unaudited) 

                                                        [Enlarge/Download Table]


                                                                Three Months Ended      
                                                           -----------------------------
                                                           December 30,    December 31, 
                                                               1995            1994     
                                                           -------------   -------------
                                                                                        
Operating activities:                                                                   
 Net income...............................................    $ 1,375         $   448   
 Adjustment to reconcile net income to net                                              
  cash provided by (used in) operating activities:                                      
  Depreciation and amortization...........................        243             350   
  Loss on retirement of equipment.........................         --               2   
  Deferred rent...........................................         --               9   
 Changes in operating assets and liabilities:                                           
  Accounts receivable.....................................      2,233          (1,350)  
  Inventories.............................................       (309)            (16)  
  Prepaid expenses and other current assets...............        140              53   
  Other assets............................................         (1)              5   
  Accounts payable........................................        681             (83)  
  Accrued payroll and other expenses......................         22             (52)  
  Accrued commissions.....................................       (529)           (447)  
  Income taxes payable....................................         38             (13)  
  Other accrued liabilities...............................       (314)           (143)  
  Deferred maintenance revenues...........................        814             217   
                                                              -------         -------   
    Net cash provided by (used in) operating activities...      4,393          (1,020)  

Investing activities:                                                                   
 Purchases of equipment and leasehold improvements........       (494)           (109)  
 Purchase of short-term investments.......................     (5,505)             (6)  
 Maturities of short-term investments.....................        450              --   
                                                              -------         -------   
   Net cash used in investing activities..................     (5,549)           (115)  

Financing activities:                                                                   
 Principal payments on long-term borrowings...............       (206)            (85)  
 Sale of common stock.....................................     10,516               8   
                                                              -------         -------   
   Net cash provided by (used in) financing activities....     10,310             (77)  
                                                              -------         -------   

Increase (decrease) in cash and cash equivalents..........      9,154          (1,212)  
Cash and cash equivalents at beginning of period..........      7,305           3,422   
                                                              -------         -------   
Cash and cash equivalents at end of period................    $16,459         $ 2,210   
                                                              =======         =======   

See notes to consolidated financial statements. 

5 

10-Q 6th Page of 11 TOC 1st Previous Next ↓Bottom Just 6th
IKOS SYSTEMS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

1.   Basis of Presentation                                                      

     The accompanying consolidated financial statements at December 30, 1995 and
    for the three month periods ended December 30, 1995 and December 31, 1994,
have been prepared in conformity with generally accepted accounting   
principles, consistent with those applied in, and should be read in   
 conjunction with, the audited consolidated financial statements for the
   year ended September 30, 1995 included in the Form 10-K as filed with the
Securities and Exchange Commission on December 22, 1995. The unaudited
 interim financial information reflects all normal recurring adjustments
    which are, in the opinion of management, necessary for a fair statement of
    results for the interim periods presented. The results for the three month
  period ended December 30, 1995 are not necessarily indicative of results
expected for the full year.                                           

2.   Short-Term Investments                                                     

   The Company accounts for certain investments in accordance with Financial
     Accounting Standards Board, Statement of Financial Accounting Standards No.
115 (FAS 115), "Accounting for Certain Investments in Debt and Equity 
    Securities." All debt securities of the Company are classified as held-to-
maturity. The fair values for marketable debt securities are based on 
quoted market prices.  The Company's investments are primarily U.S.   
Treasury Securities and U.S. Corporate notes.                         

3.   Revenue Recognition                                                        

Product revenues, which include licensing and software revenues, are  
 generally recognized on shipment provided that no significant vendor or
    post-contract support obligations remain outstanding and collection of the
  resulting receivable is deemed probable.  Insignificant vendor and post-
   support obligations are accrued upon shipment.  Revenue under maintenance
contracts is recognized ratably over the term of the related contract,
generally twelve months.                                              

4.   Inventories                                                                

     Inventories are stated at the lower of cost (first-in, first-out) or market
and consisted of (in thousands):                                      

                                                                [Download Table]

                          December 30,     September 30,
                              1995              1995    
                          ------------     -------------
                                                        

Purchase parts                $  232           $  347   
Work-in-process                1,144              563   
Finished goods                   261              418   
                              ------           ------   

 Total inventories            $1,637           $1,328   
                              ======           ======   

5.   Net Income Per Share                                                       

Net income per share is based on the weighted average number of common
shares outstanding during the period.  Common equivalent shares from  
options have been included in the computation when dilutive.          

6 

10-Q 7th Page of 11 TOC 1st Previous Next ↓Bottom Just 7th
ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND        
RESULTS OF OPERATIONS                                         

NET REVENUES                                                                    

First quarter net revenues totaled $9,277,000, an increase of approximately 52% 
over the same quarter in fiscal 1995. The increase is primarily the result of   
the continued growth in sales of the Voyager product line and the introduction  
of the new Gemini product during the latter part of fiscal year 1995. These     
products contributed  the  vast  majority  of  product  net  revenues  during   
the  three  months  ending  December 30, 1995. Product net revenues exclude     
maintenance, consulting, training, rentals and other non-product related sales. 

Maintenance revenue for the quarter increased substantially over the same       
quarter of the previous fiscal quarter as a result of the growing customer base.

International sales for the quarter increased approximately 8% over the  same   
quarter in fiscal 1995 and accounted for approximately 22% of total sales for   
the quarter. As the Company continues to penetrate the Asian market,            
international sales are expected to increase during the year.                   

GROSS PROFIT MARGINS                                                            

Gross profit margins improved to approximately 77% of net revenues for the first
quarter of fiscal 1996, an increase from approximately 73% for the first quarter
of fiscal 1995. The increase was primarily the result of increases in           
maintenance revenues and a reduction in maintenance expenses.  The maintenance  
revenue increase is a direct result of the growing customer base.  The reduced  
expenses are a result of the transfer of certain personnel from maintenance     
support to marketing without any replacements during the quarter. Gross profit  
margins are expected to remain strong in subsequent quarters provided revenues  
of newer products continue to increase.                                         

RESEARCH AND DEVELOPMENT EXPENSES                                               

Research and development expenses in the first quarter of fiscal 1996 totaled   
$1,541,000, representing an increase of approximately 68% over the same quarter 
of fiscal year 1995.  The increase was primarily attributable to the acquisition
of software technology.  Additionally research and development expenses have    
increased as a result of increased headcount and associated expenses.  The      
Company expects research and development expenses to increase in absolute       
dollars over the remainder of the year but remain flat as a percentage of       
revenues over that same period as the Company continues to develop its future   
generation of products.                                                         

SALES AND MARKETING EXPENSES                                                    

Sales and marketing expenses increased by $912,000 to $3,494,000 for the first  
quarter of 1996 when compared to the same period in fiscal 1995.  The increase  
is primarily the result of additional headcount and increased commissions as a  
result of higher revenue levels, as well as increased expenses for international
operations.  Sales and marketing expenses are expected to continue to increase  
in absolute dollars over the next three fiscal quarters reflecting increased    
headcount, commission expense and marketing expenses.                           

7 

10-Q 8th Page of 11 TOC 1st Previous Next ↓Bottom Just 8th
GENERAL AND ADMINISTRATIVE EXPENSES                                             

General and administrative expenses were $689,000 in the first quarter of fiscal
1996.  This compares to $489,000 for the same period in fiscal 1995.  The       
increase is due to several factors including additional headcount, increased    
investor relations expenses, professional services and profit sharing expenses. 
General and administrative expenses are expected to increase slightly in        
absolute dollars and decrease as a percent of net revenues over the next three  
fiscal quarters of fiscal 1996 as a result of increased headcount, salaries and 
related expenses.                                                               

INCOME TAXES                                                                    

The provision for income taxes consists primarily of federal alternative minimum
tax, state and foreign taxes and Japanese withholding taxes.  The tax rate is   
substantially below the federal statutory rate due to the utilization of net    
operating loss carryovers for which no benefit has previously been taken.       

LIQUIDITY AND CAPITAL RESOURCES                                                 

As of December 30, 1995, the Company had $21,964,000 in cash, cash equivalents  
and short term investments which compares to $7,755,000 as of September 30,     
1995.                                                                           

Net  cash  provided  by  operating  activities  was  $4,393,000  for  the  three
months  ended  December 30, 1995 and was primarily due to net income, a         
substantial reduction in outstanding accounts receivable, depreciation and      
amortization and increased deferred maintenance revenues partially offset by    
increase in inventories and a decrease in accrued commissions and other accrued 
liabilities.                                                                    

Net cash used in investing activities was approximately $5,549,000 due primarily
to net purchases of approximately $5,505,000 of short-term investments and      
$494,000 of equipment during the three months ended December 30, 1995.  The     
Company expects capital expenditures to increase throughout the remainder of the
year as the expected headcount additions will require additional workstations.  

Net cash provided by financing activities for the three months ended December   
30, 1995 was $10,310,000 which was a result of the completion of the Company's  
public stock offering and the exercise of options by Company employees.         
Proceeds from the sale of 1,150,000 shares of common stock, net of offering     
costs, was approximately $10,450,000.  Offsetting the increases in cash provided
by financing activities were principal payments of approximately $206,000 on    
long-term debt.                                                                 

The Company's primary unused sources of funds at December 30, 1995, consisted of
$21,964,000 of cash, cash equivalents and short term investments.  The Company  
believes that its present cash position and cash generated from operations will 
be sufficient to meet its capital needs for at least the next twelve months.    

Forward-looking statements in this Quarterly Report on Form 10-Q are made       
pursuant to the safe harbor provisions of the Private Securities Litigation     
Reform Act of 1995.  Investors are cautioned that all forward-looking statements
involve risks and uncertainties, including, without limitation, a developing    
market and continued acceptance of the Company's products, changes in the       
marketplace and increased levels of competition for the Company, the Company's  
dependence upon third-party suppliers and the Company's intellectual property   
rights.  Further information on potential factors which could affect the        
Company's financial results are included in the Company's Annual Report on Form 
10-K for the year ended September 30, 1995 and the Company's Registration       
Statement on Form S-2, effective October 12, 1995.                              

8 

10-Q 9th Page of 11 TOC 1st Previous Next ↓Bottom Just 9th
PART II.  OTHER INFORMATION 

ITEMS 1-5.  Not applicable.                                                     

ITEM 6.     EXHIBITS AND REPORTS ON FORM 8-K.                                   

(a) INDEX TO EXHIBITS                                                           

                                                        [Enlarge/Download Table]

Exh. No.                      Documentation Description                             Page
-------                       -------------------------                             ----
                                                                                        
 4.1     Certificate of Amendment of Certificate of Incorporation filed May 5,          
         1994. (Incorporated by reference to Exhibit 4.1 of the Company's               
         registration statement on Form S-2 effective October 12, 1995.)                

 4.2     Certificate of Amendment of Certificate of Incorporation filed April 24,       
         1995. (Incorporated by reference to Exhibit 4.2 of the Company's               
         registration statement on Form S-2 effective October 12, 1995.)                

 4.4     Rights Agreement dated as of January 27, 1992 between the Company and          
         Manufacturers Hanover Trust Company of California, Rights Agent.               
         (Incorporated by reference to Exhibit (C)1, in the Company's current           
         report on Form 8-K filed February 10, 1992.)                                   

10.1     Lease Agreement for the Company's principal facility dated March 20,           
         1992, between Ames Avenue Associates and the Company, as amended.              
         (Incorporated by reference to Exhibit 10.1 of the Company's annual report      
         on 10-K for the year ending September 26, 1992.)                               

10.2     Form of Director and Officer Indemnity Agreement.  (Incorporated by            
         reference to Exhibit 10.6 of the Company's registration statement  on          
         Form  S-1  effective  July 25, 1990.)                                          

10.3     1988 Stock Option Plan.  (Incorporated by reference to Exhibit 10.14 of        
         the Company's registration statement on Form S-1 effective July 25,            
         1990.)                                                                         

10.4     Patent Cross License Agreement dated May 17, 1989 with Zycad Corporation.      
         (Incorporated by reference  from  Zycad  Corporation's  Annual  Report         
         on  Form 10-K filed April 2, 1990.)  (Incorporated by reference to             
         Exhibit 10.20 of the Company's registration statement on Form S-1              
         effective July 25, 1990.)                                                      

10.5     International Distributorship Agreement dated April 11, 1988, with C.          
         Itoh & Co., Ltd. (with certain confidential portions excised).                 
         (Incorporated by reference to Exhibit 10.24 of the Company's registration      
         statement  on  Form S-1 effective July 25, 1990.)                              

10.6     OEM Software License Agreement between CAD Language Systems, Inc. and          
         IKOS Systems, Inc. dated June 22, 1989 and amendment dated September           
         1991.  (Incorporated by reference to Exhibit 10.18 of the Company's            
         Annual Report for the year ended September 28, 1991.)                          

9 

10-Q 10th Page of 11 TOC 1st Previous Next ↓Bottom Just 10th
                                                        [Enlarge/Download Table]

Exh. No.                      Documentation Description                             Page
-------                       -------------------------                             ----
                                                                                        
10.7     Technology Transfer and Joint Development Agreement with Racal-Redac,          
         Inc. dated July 1, 1993 (with certain portions excised).  (Incorporated        
         by reference to Exhibit 10.19 of the Company's quarterly report on Form        
         10-Q for the quarter ended July 3, 1993.)                                      

10.8     Settlement Agreement and Release dated March 31, 1994 between Racal            
         Redac, Inc. and the Company. (Incorporated by reference to Exhibit 10.13       
         of the Company's registration  statement  on  Form  S-2  effective             
         October 12, 1995.)                                                             

10.9     Software License Agreement dated December 31, 1993 between Compass Design      
         Automation and the Company.  (Incorporated by reference to Exhibit 10.17       
         of the Company's quarterly report on Form 10-Q for the quarter ended           
         January 1, 1994.)                                                              

10.10    Agreement dated June 2, 1994, between the Company and Gerald S. Casilli.       
         (Incorporated by reference to Exhibit 10.18 of the Company's quarterly         
         report on Form 10-Q for the quarter ended July 2, 1994.)                       

10.11    Agreement dated June 2, 1994, between the Company and William B.               
         Fazakerly.  (Incorporated by reference to Exhibit 10.18 of the Company's       
         quarterly report on Form 10-Q for the quarter ended July 2, 1994.)             

10.12    Agreement dated June 2, 1994, between the Company and Daniel R. Hafeman.       
         (Incorporated by reference to Exhibit 10.18 of the Company's quarterly         
         report on Form 10-Q for the quarter ended July 2, 1994.)                       

10.13    Agreement dated June 2, 1994, between the Company and Stephen M.               
         McLaughlin.  (Incorporated by reference to Exhibit 10.18 of the Company's      
         quarterly report on Form 10-Q for the quarter ended July 2, 1994.)             

10.14    Agreement dated June 2, 1994, between the Company and Lawrence A.              
         Melling.  (Incorporated by reference to Exhibit 10.18 of the Company's         
         quarterly report on Form 10-Q for the quarter ended July 2, 1994.)             

10.15    Agreement dated June 2, 1994, between the Company and Ramon A. Nunez.          
         (Incorporated by reference to Exhibit 10.18 of the Company's quarterly         
         report on Form 10-Q for the quarter ended July 2, 1994.)                       

10.16    Agreement dated June 2, 1994, between the Company and Joseph W. Rockom.        
         (Incorporated by reference to Exhibit 10.18 of the Company's quarterly         
         report on Form 10-Q for the quarter ended July 2, 1994.)                       

10.17    The Company's 1995 Outside Directors Stock Option Plan.  (Incorporated by      
         reference to Exhibit 10.22 of the Company's registration statement on          
         Form S-2 effective October 12, 1995.)                                          

10

10-Q Last Page of 11 TOC 1st Previous Next ↓Bottom Just 11th
                                                        [Enlarge/Download Table]

Exh. No.                      Documentation Description                             Page
-------                       -------------------------                             ----
                                                                                        
10.18    Development and OEM Agreement for Verilog/IKOS Co-simulation Interface         
         dated August 26, 1994 by and between the Company and Precedence                
         Incorporated.  (Incorporated by reference to Exhibit 10.24 of the              
         Company's registration statement on Form S-2 effective October 12, 1995.)      

10.19    Agreement dated June 19, 1995 by and between the Company and William B.        
         Fazakerly. (Incorporated by reference to Exhibit 10.20 of the Company's        
         annual report on Form 10-K for the year ended September 30, 1995.)             

10.20    Amendment to OEM Agreement for the acquisition of certain software             
         technology, by and between Compass Design Automation, Inc. and the             
         Company dated December 27, 1995.                                               

10.21    Amended and Restated Employment Agreement dated August  1, 1995 by and         
         between the Company and Ramon Nunez.                                           

11.1     Statements of Computation of Earnings Per Share                                

27.1     Financial Data Schedule                                                        

(b) REPORTS ON FORM 8-K  -  Not applicable                                      

SIGNATURES  

Pursuant to the requirements of the Securities Exchange Act of 1934, the        
registrant has duly caused this report to be signed on its behalf by the        
undersigned thereunto duly authorized.                                          

          IKOS SYSTEMS, INC.
         -----------------
  Registrant

Date:  February 9, 1996             /s/  Joseph W. Rockom                       
----------------             ---------------------                
               (JOSEPH W. ROCKOM, CFO)
                    Principal Financial Officer,
               Duly Authorized Officer

11

10-Q	1st Page of 11	TOC	↑Top	Previous	Next	↓Bottom	Just 1st

10-Q	2nd Page of 11	TOC	1st	Previous	Next	↓Bottom	Just 2nd

10-Q	3rd Page of 11	TOC	1st	Previous	Next	↓Bottom	Just 3rd

10-Q	4th Page of 11	TOC	1st	Previous	Next	↓Bottom	Just 4th

10-Q	5th Page of 11	TOC	1st	Previous	Next	↓Bottom	Just 5th

10-Q	6th Page of 11	TOC	1st	Previous	Next	↓Bottom	Just 6th

10-Q	7th Page of 11	TOC	1st	Previous	Next	↓Bottom	Just 7th

10-Q	8th Page of 11	TOC	1st	Previous	Next	↓Bottom	Just 8th

10-Q	9th Page of 11	TOC	1st	Previous	Next	↓Bottom	Just 9th

10-Q	10th Page of 11	TOC	1st	Previous	Next	↓Bottom	Just 10th

10-Q	Last Page of 11	TOC	1st	Previous	Next	↓Bottom	Just 11th

Dates Referenced Herein and Documents Incorporated by Reference

		Referenced-On Page
This ‘10-Q’ Filing	Date	First	Last	Other Filings

Filed on:	2/12/96			S-8, SC 13G
	2/9/96	11
For Period End:	12/30/95	1	8
	12/27/95	11
	12/22/95	6
	10/12/95	8	11	10-C
	9/30/95	2	11	10-K
	8/1/95	11
	6/19/95	11
	4/24/95	9
	12/31/94	2	6
	8/26/94	11
	7/2/94	10
	6/2/94	10
	5/5/94	9
	3/31/94	10
	1/1/94	10
	12/31/93	10
	7/3/93	10
	7/1/93	10
	9/26/92	9
	3/20/92	9
	2/10/92	9
	1/27/92	9
				List all Filings

↑Top

Filing Submission 0000898430-96-000410 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Ikos Systems Inc – ‘10-Q’ for 12/30/95

As of: Monday, 2/12/96 · For: 12/30/95 · Accession #: 898430-96-410 · File #: 0-18623

Previous ‘10-Q’: ‘10-Q’ on 8/14/95 for 7/1/95 · Next: ‘10-Q’ on 5/13/96 for 3/30/96 · Latest: ‘10-Q’ on 2/12/02 for 12/29/01

Quarterly Report — Form 10-QFiling Table of Contents

10-Q — Quarterly ReportDocument Table of Contents

Dates Referenced Herein and Documents Incorporated by Reference

Quarterly Report — Form 10-Q
Filing Table of Contents

10-Q — Quarterly Report
Document Table of Contents