Synopsys Posts Financial Results for Third Quarter Fiscal Year 2016

 

Earnings Call Open to Investors

Synopsys will hold a conference call for financial analysts and investors today at 2:00 p.m. Pacific Time.  A live webcast of the call will be available at Synopsys' corporate website at www.synopsys.com.  A recording of the call will be available by calling +1-800-475-6701 (+1-320-365-3844 for international callers), access code 399721, beginning at 4:00 p.m. Pacific Time today.  A webcast replay will also be available on the website from approximately 4:30 p.m. Pacific Time today through the time Synopsys announces its results for the fourth quarter and fiscal year 2016 earnings in November 2016.  Synopsys will post copies of the prepared remarks of Aart de Geus, chairman and co-chief executive officer, and Trac Pham, chief financial officer, on its website following the call.  In addition, Synopsys makes additional information available in a financial supplement and corporate overview presentation, also posted on the corporate website.

Effectiveness of Information

The targets included in this release, the statements made during the earnings conference call and the information contained in the financial supplement and corporate overview presentation (available in the Investor Relations section of Synopsys' website at www.synopsys.com) represent Synopsys' expectations and beliefs as of the date of this release only.  Although this press release, copies of the prepared remarks of the co-chief executive officer and chief financial officer made during the call, the financial supplement, and corporate overview presentation will remain available on Synopsys' website through the date of the fourth quarter and fiscal year 2016 earnings call in November 2016, their continued availability through such date does not mean that Synopsys is reaffirming or confirming their continued validity.  Synopsys does not currently intend to report on its progress during the fourth quarter of fiscal year 2016 or comment to analysts or investors on, or otherwise update, the targets given in this earnings release.

Availability of Final Financial Statements

Synopsys will include final financial statements for the third quarter fiscal 2016 in its quarterly report on Form 10-Q to be filed by Sept. 8, 2016.

About Synopsys

Synopsys, Inc. (Nasdaq: SNPS) is the Silicon to Software™ partner for innovative companies developing the electronic products and software applications we rely on every day. As the world's 15th largest software company, Synopsys has a long history of being a global leader in electronic design automation (EDA) and semiconductor IP and is also growing its leadership in software quality and security solutions. Whether you're a system-on-chip (SoC) designer creating advanced semiconductors, or a software developer writing applications that require the highest quality and security, Synopsys has the solutions needed to deliver innovative, high-quality, secure products. Learn more at www.synopsys.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, including, but not limited to, information in the sections entitled "Financial Targets" and "Reconciliation of Target Non-GAAP Operating Results" and statements related to the expected strength of customer investments, success of acquisitions and progress in new markets.  These statements involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied in our forward-looking statements.  Accordingly, we caution stockholders and prospective investors not to place undue reliance on these statements.  Such risks, uncertainties and factors include, but are not limited to: uncertainty in the growth of the semiconductor and electronics industry; consolidation among our customers; continued uncertainty in the global economy; our ability to realize the potential financial or strategic benefits of acquisitions we complete; changes in accounting principles or standards; fluctuation of our operating results; our highly competitive industries and our ability to meet our customers' demand for innovative technology at lower costs; our ability to protect our proprietary technology; application of the actual consolidated GAAP tax rate, or our decision to change our non-GAAP normalized tax rate, as a result of a number of factors, including the actual geographic mix of revenue during the quarter and year, tax law changes, actions by government authorities, or judgment by management, based upon the status of pending audits and settlements, to increase or decrease an income tax asset or liability; investments of more resources in research and development than anticipated; risks and compliance obligations relating to the global nature of our operations; cybersecurity threats or other security breaches; liquidity requirements in our U.S. operations; claims that our products infringe on third-party intellectual property rights; product errors or defects; litigation; the ability to obtain licenses to third-party software and intellectual property on reasonable terms or at all; the ability to timely recruit and retain senior management and key employees; evolving corporate governance and public disclosure regulations; the inherent limitations on the effectiveness of our controls and compliance programs; the impairment of our investment portfolio by the deterioration of capital markets and the change in the fair value of our non-qualified deferred compensation plan obligations; the accuracy of certain assumptions, judgments and estimates that affect amounts reported in our financial statements; and the impact of catastrophic events.  More information on potential risks, uncertainties and other factors that could affect Synopsys' results is included in filings it makes with the Securities and Exchange Commission from time to time, including in the sections entitled "Risk Factors" in its Annual Report on Form 10-K for the fiscal year ended October 31, 2015 and in its Form 10-Q for the fiscal quarter ended July 31, 2016 to be filed with the SEC.  The information provided herein is as of Aug. 17, 2016.  Synopsys undertakes no duty, and does not intend, to update any forward-looking statement, whether as a result of new information, future events or otherwise, unless required by law.

 

SYNOPSYS, INC.

Unaudited Consolidated Statements of Operations (1)

(in thousands, except per share amounts)


















Three Months Ended 


Nine Months Ended


July 31,


July 31,


2016


2015


2016


2015

Revenue:








  Time-based license

$   479,285


$   445,807


$    1,427,740


$    1,324,677

  Upfront license

66,885


48,878


168,485


139,671

  Maintenance and service

69,034


61,120


192,588


190,704

      Total revenue

615,204


555,805


1,788,813


1,655,052

Cost of revenue:








  License

92,042


77,516


253,879


218,650

  Maintenance and service

23,172


25,251


67,328


82,244

  Amortization of intangible assets

24,463


26,704


79,544


78,182

     Total cost of revenue

139,677


129,471


400,751


379,076

Gross margin

475,527


426,334


1,388,062


1,275,976

Operating expenses:








  Research and development

221,874


197,999


634,751


567,924

  Sales and marketing

127,328


116,988


370,874


343,736

  General and administrative

42,548


43,925


123,798


121,254

  Amortization of intangible assets 

7,055


6,188


21,014


19,066

  Restructuring charges

-


(248)


2,987


15,088

     Total operating expenses

398,805


364,852


1,153,424


1,067,068

Operating income

76,722


61,482


234,638


208,908

Other income (expense), net

8,509


3,711


12,158


16,784

Income before income taxes

85,231


65,193


246,796


225,692

Provision (benefit) for income taxes

20,513


9,806


52,667


49,520

Net income

$     64,718


$     55,387


$       194,129


$       176,172









Net income per share:








  Basic

$         0.43


$0.36


$             1.28


$1.14

  Diluted

$         0.42


$0.35


$             1.26


$1.12









Shares used in computing per share amounts:








  Basic

151,169


155,533


152,129


154,835

  Diluted

153,890


158,584


154,629


157,850









(1)  Synopsys' third quarter of fiscal year 2016 and 2015 ended on July 30, 2016 and August 1, 2015, respectively. For presentation purposes, we refer to the closest calendar month end.


« Previous Page 1 | 2 | 3 | 4 | 5 | 6  Next Page »



Review Article Be the first to review this article
Aldec


Featured Video
Latest Blog Posts
Anupam BakshiAgnisys Automation Review
by Anupam Bakshi
Functional Safety and Security in Embedded Systems
Bob Smith, Executive DirectorBridging the Frontier
by Bob Smith, Executive Director
Phil Kaufman Award Goes on Hiatus for 2020
Colin WallsEmbedded Software
by Colin Walls
Why develop embedded software bottom up?
Jobs
Senior Application Engineer Formal Verification for EDA Careers at San Jose and Austin, California
ASIC Design Integration Engineer for Apple Inc at Cupertino, California
IC Design Engineer - SoC Integration for Xilinx at San Jose, California
Wireless ASIC Design Engineer for Apple Inc at Cupertino, California
ASIC Design Engineer, for Apple Inc at Cupertino, California
ASIC Engineer for Amazon at seattle, Washington
Upcoming Events
Accellera Day India 2020 at Online Event India - Dec 2 - 3, 2020
RISC-V Summit 2020. at United States - Dec 7 - 10, 2020
SEMICON Japan 2020 Goes Virtual at Japan - Dec 11 - 18, 2020
IPC APEX EXPO 2021 at San Diego Convention Center san diego - Mar 6 - 11, 2021
TrueCircuits:



© 2020 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