Synopsys Posts Financial Results for First Quarter Fiscal Year 2008 Wednesday February 20, 4:05 pm ET
MOUNTAIN VIEW, Calif., Feb. 20 /PRNewswire-FirstCall/ -- Synopsys, Inc. (Nasdaq: SNPS - News), a world leader in software and IP for semiconductor design and manufacturing, today reported results for its first quarter ended January 31, 2008. ADVERTISEMENT
For the first quarter, Synopsys reported revenue of $315.5 million, a 5.1 percent increase compared to $300.2 million for the first quarter of fiscal 2007.
"We exit the first quarter with our year solidly on track in terms of revenue and earnings growth, operating margin expansion, an excellent balance sheet, and advanced technology," said Aart de Geus, chairman and CEO of Synopsys. "And with more than 90 percent of our revenue under time-based licenses, we adhered strongly to our predictable business model."
On a generally accepted accounting principles (GAAP) basis, net income for the first quarter of fiscal 2008 was $46.4 million, or $0.31 per share, compared to $23.4 million, or $0.16 per share, for the first quarter of fiscal 2007.
On a non-GAAP basis, net income for the first quarter of fiscal 2008 was $66.0 million, or $0.44 per share, compared to non-GAAP net income of $44.0 million, or $0.30 per share, for the first quarter of fiscal 2007.