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Synopsys: Fiscal 3Q Earnings Snapshot

MOUNTAIN VIEW, Calif. (AP) _ Synopsys Inc. (SNPS) on Wednesday reported fiscal third-quarter earnings of $99.9 million.

The Mountain View, California-based company said it had net income of 65 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to $1.18 per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.10 per share.

The maker of software used to test and develop chips posted revenue of $853 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $829.5 million.

For the current quarter ending in October, Synopsys expects its per-share earnings to range from $1.10 to $1.15. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.03.

The company said it expects revenue in the range of $830 million to $860 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $841.7 million.

Synopsys expects full-year earnings in the range of $4.52 to $4.57 per share, with revenue ranging from $3.34 billion to $3.37 billion.

Synopsys shares have risen 56% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $131.74, a climb of 40% in the last 12 months.


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