While today's SNPS news doesn't come right out and say it, if you read through this news, I think you can imply it.
UPDATE 1-Synopsys Q3 profit beats Street view; sees weak Q4 Wed Aug 19, 2009 5:29pm EDT
* Q3 adj EPS of 47 cents beat estimates by 6 cents
* Q3 revenue in line with estimates
* Q4 sales, EPS view miss estimates
* Sees FY09 sales view $1.36-$1.37 bln vs $1.35-$1.38 bln
* Shares fall 4 pct in after market trade
Aug 19 (Reuters) - Chip-design software maker Synopsys Inc (SNPS.O) posted a better-than-expected quarterly profit, helped by lower expenses, but forecast fourth-quarter results below Wall Street expectations, sending its shares down 4 percent.
The company forecast fourth-quarter adjusted earnings of 29 cents to 33 cents a share on revenue of $335 million to $343 million. Analysts were looking for earnings of 34 cents a share, excluding items, on revenue of $346.1 million.
For the third quarter, the company posted a profit of $47.4 million, or 32 cents a share, compared with $57.7 million, or 39 cents a share, a year ago.
Excluding items, it earned 47 cents a share, while revenue was almost flat at $345.2 million.
Analysts were expecting a profit of 41 cents a share, before items, on revenue of about $345.2 million, according to Reuters Estimates.
Earlier this month, the company's biggest rival in the electronic design automation (EDA) market, Cadence Design Systems Inc (CDNS.O), posted a narrower-than-expected quarterly loss of 5 cents a share, as it got more comfortable with its shift to a subscription-based revenue model.
For 2009, Synopsys now expects adjusted earnings of $1.71 to $1.75 a share on revenue of $1.36 billion to $1.37 billion. The company previously expected earnings of $1.62 to $1.72 a share on revenue of $1.35 billion to $1.38 billion.
Shares of the Mountain View, California-based company were down 4 percent at $19.70 after the bell. They closed at $20.52 Wednesday on Nasdaq.
Sorry, I don't see it. I really don't. Not even by implication. Synopsys is doing remarkably well in an EDA market place that is decidedly in recession. There is absolutely no evidence in the press article or their quarterly financials that they are losing market share to Cadence.
You can imply that the sun orbits the earth too, by observing it, but that doesn't make it true.