Synopsys Posts Financial Results for Second Quarter Fiscal Year 2020

Q2 2020 Financial Highlights

MOUNTAIN VIEW, Calif., May 20, 2020 — (PRNewswire) — Synopsys, Inc. (Nasdaq: SNPS) today reported results for its second quarter fiscal year 2020. Revenue for the second quarter was $861.3 million, compared to $836.2 million for the second quarter of fiscal 2019.  

"Synopsys continues to execute well. We delivered excellent second quarter results, including revenue, non-GAAP earnings per share and operating cash flow that exceeded our targets. Our innovation continues at a rapid pace, as we introduced several exciting new products in the quarter," said Aart de Geus, chairman and co-CEO of Synopsys. "Even as the world grapples with unprecedented challenges, chip and system design activity remain robust. With a resilient business model and strong balance sheet, Synopsys is well-positioned to reaffirm our 2020 revenue and non-GAAP operating margin guidance and raise our non-GAAP earnings-per-share and operating cash flow targets."

GAAP Results

On a generally accepted accounting principles (GAAP) basis, net income for the second quarter of fiscal 2020 was $109.9 million, or $0.71 per share, compared to $118.2 million, or $0.77 per share, for the second quarter of fiscal 2019.

Non-GAAP Results

On a non-GAAP basis, net income for the second quarter of fiscal 2020 was $188.3 million, or $1.22 per share, compared to non-GAAP net income of $178.1 million, or $1.16 per share, for the second quarter of fiscal 2019.

For a reconciliation between GAAP and non-GAAP results, see "GAAP to Non-GAAP Reconciliation" and the accompanying tables below. 

Business Segments

Synopsys reports revenue and operating income in two segments: (1) Semiconductor & System Design, which includes EDA tools, IP products, system integration solutions and associated services, and (2) Software Integrity, which includes security and quality solutions for software development across many industries. Further information regarding these segments is provided at the end of this press release.

Financial Targets

Synopsys also provided its consolidated financial targets for the third quarter and full fiscal year 2020. These financial targets assume that the current U. S. government "Entity List" restrictions remain in place for the rest of the fiscal year. These targets constitute forward-looking statements and are based on current expectations. For a discussion of factors that could cause actual results to differ materially from these targets, see "Forward-Looking Statements" below. 

Third Quarter and Fiscal Year 2020 Financial Targets

(in millions except per share amounts)








Q3 FY2020


FY 2020


Low

High


Low

High

Revenue

$   875

$   905


$   3,600

$   3,650

GAAP Expenses

$   721

$   737


$   2,991

$   3,031

Non-GAAP Expenses

$   640

$   650


$   2,630

$   2,660

Other Income (Expense)

$      (5)

$      (3)


$      (11)

$        (7)

Normalized Annual Tax Rate (1)

16%

16%


16%

16%

Outstanding Shares (fully diluted)

153

156


153

156

GAAP EPS

$  1.12

$   1.22


$    3.74

$    3.90

Non-GAAP EPS

$  1.33

$   1.38


$    5.21

$    5.28

Operating Cash Flow




$     815

$     840


(1) Applied in non-GAAP net income calculations


1 | 2 | 3 | 4 | 5 | 6 | 7 | 8  Next Page »

Rating:


Review Article Be the first to review this article


Featured Video
Latest Blog Posts
Bob Smith, Executive DirectorBridging the Frontier
by Bob Smith, Executive Director
You’re Invited! CEO Outlook May 18
Anupam BakshiAgnisys Automation Review
by Anupam Bakshi
Automating the UVM Register Abstraction Layer (RAL)
Jobs
Pre-silicon Design Verification Engineer for Intel at Santa Clara, California
Senior HID Sensor Algorithm Architect for Apple Inc at Cupertino, California
SoC Physical Design Engineer for Qualcomm at Austin, Texas
SerDes Applications Design Engineer for Xilinx at San Jose, California
Circuit Design & Layout Simulation Engineer - Co-Op (Spring 2021) for Global Foundaries at Santa Clara, California
Test and Measurement System Architect for Xilinx at San Jose, California
Upcoming Events
DVCon China 2021 at Shanghai China - May 26, 2021
CadenceLIVE Americas 2021 at United States - Jun 8 - 9, 2021
DesignCon 2021 at San Jose McEnery Convention Center San Jose, CA San Jose CA - Aug 16 - 18, 2021
SEMICON Southeast Asia 2021 Hybrid Event at Setia SPICE Convention Centre Penang Malaysia - Aug 23 - 27, 2021



© 2021 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise