Synopsys Inc (SNPS.O: Quote, Profile, Research), which makes software used to design semiconductors, on Wednesday posted a higher quarterly profit, helped by new software sales, but gave fourth-quarter forecasts short of some analysts' estimates.
Shares of Synopsys fell more than 1 percent in extended trading, after rising 3 percent in regular Nasdaq trade.
Net income for its fiscal third quarter rose to $24.9 million, or 17 cents per share, from $7.6 million, or 5 cents per share, a year ago. Third-quarter revenue rose to $304.1 million from $277.2 million.
Excluding certain items such as stock-based compensation and amortization of intangible assets, Synopsys said it had earnings of 32 cents per share.
Analysts, on average, had expected the Mountain View, California-based company to post earnings per share before certain items of 30 cents and revenue of $300.6 million, according to Reuters Estimates.
It was not immediately clear whether the earnings-per-share figures were comparable.
Synopsys in May had forecast third-quarter earnings per share of 28 cents to 31 cents before items and revenue of $295 million to $305 million.
For its fiscal fourth quarter ending in October, Synopsys forecast earnings per share before certain items of 34 cents to 37 cents and revenue of $300 million to $310 million.
Analysts, on average, are expecting fourth-quarter earnings per share before items of 35 cents and revenue of $308.6 million, according to Reuters Estimates.
Shares of Synopsys fell 1.2 percent in extended trading following the earnings report, after closing up 74 cents at $25.76 in regular-session trading on Nasdaq. (Reporting by Duncan Martell and Philipp Gollner)