EUROPE - According to reports, the European Commission has “strongly rejected” the US complaint that the customs classification applied to specific technological products is not justified under the Information Technology Agreement (ITA).

SAN JOSE, CA – The Semiconductor Industry Association (SIA) has announced its strong support for the Office of the United States Trade Representative (USTR) in its efforts to protect tariff-free trade in electronic products. These products have been duty-free since the implementation of the Information Technology Agreement (ITA) in 1997.

““Free and fair trade is vitally important to the health of the U.S. semiconductor industry,” said SIA president George Scalise. “We rely not only on open trade for semiconductor products but also for the electronic products that use semiconductors. Roughly three quarters of our sales take place outside of our borders,” Scalise added.

“The ITA represents a major accomplishment, benefiting not only IT producers but guaranteeing lower cost access to IT products for consumers worldwide. Ambassador [Susan] Schwab [U.S. Trade Representative] and her team are taking the steps needed to ensure that the progress made… isn’t eroded by misguided attempts to revert to protectionist policies,” Scalise concluded.

PITTSBURGH, PA – Ansoft Corp. has announced financial results for the fourth quarter of fiscal 2008 ending April 30.

Revenue for fiscal Q4 totaled $33.9 million, an increase of 19%, as compared to $28.6 million reported in the previous fiscal year's fourth quarter.

On a non-GAAP basis, net income for the fourth quarter was $10.7 million, as compared to net income of $8.7 million in the previous fiscal year's fourth quarter, for an increase of 23%.

On a GAAP basis, net income for the fourth quarter was $8.5 million, compared to $7.9 million in the previous fiscal year's fourth quarter, for an increase of 7.6%.

“We experienced revenue growth in both domestic and international markets. We are pleased to have had such a strong finish to our fiscal year with nearly 20% growth in revenue during the fourth quarter," said Ansoft CEO Nicholas Csendes.

Revenue for the fiscal year totaled $103.4 million, an increase of 16% compared to $89.1 million for the previous year.