Magma Sees Wider GAAP Loss in Q1; Stock Down 13% In Extended Trade, World News

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Magma Sees Wider GAAP Loss in Q1; Stock Down 13% In Extended Trade
Aug 15, 2008 22:00

Shares of Magma Design Automation Inc. LAVA dropped over 13% in the extended-hours trading on Thursday, after the company said it expects wider loss in its first quarter, citing account delays in customer purchasing decisions as well as channel transition. In addition, the company lowered its revenue as well non-GAAP results for the first quarter.

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