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Synopsys: Fiscal 4Q Earnings Snapshot

December 5, 2018

MOUNTAIN VIEW, Calif. (AP) _ Synopsys Inc. (SNPS) on Wednesday reported fiscal fourth-quarter net income of $254.3 million, after reporting a loss in the same period a year earlier.

The Mountain View, California-based company said it had net income of $1.66 per share. Earnings, adjusted for non-recurring gains, were 78 cents per share.

The results matched Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 78 cents per share.

The maker of software used to test and develop chips posted revenue of $795.1 million in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $794.5 million.

For the year, the company reported profit of $432.5 million, or $2.82 per share. Revenue was reported as $3.12 billion.

For the current quarter ending in February, Synopsys expects its per-share earnings to range from 95 cents to $1.

The company said it expects revenue in the range of $775 million to $810 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $792.4 million.

Synopsys expects full-year earnings in the range of $4.20 to $4.27 per share, with revenue ranging from $3.29 billion to $3.34 billion.

Synopsys shares have increased nearly 5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $89.45, a rise of slightly more than 2 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SNPS at https://www.zacks.com/ap/SNPS

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