Synopsys Posts Financial Results for Fourth Quarter and Fiscal Year 2019

 

SYNOPSYS, INC.

Business Segment Reporting (1)

(in millions)








FY18


Q4'19


FY19


ASC 605


ASC 606


ASC 606

Revenue by segment (3)






- Semiconductor & System Design

$                           2,840.6


$                             765.8


$                           3,026.1

% of Total

91.0%


90.0%


90.0%

- Software Integrity

$                              280.5


$                               85.3


$                              334.6

% of Total

9.0%


10.0%


10.0%

Total segment revenue

$                           3,121.1


$                             851.1


$                           3,360.7







Adjusted operating income by segment (3)






- Semiconductor & System Design

$                              701.3


$                             202.1


$                              806.6

- Software Integrity

$                               (10.6)


$                                 9.4


$                                32.2

Total adjusted segment operating income

$                              690.7


$                             211.5


$                              838.8







Adjusted operating margin by segment (3)






- Semiconductor & System Design

24.7%


26.4%


26.7%

- Software Integrity

(3.8%)


11.0%


9.6%

Total adjusted segment operating margin

22.1%


24.8%


25.0%







Total Adjusted Segment Operating Income Reconciliation (1)(2)

(in millions)








Twelve Months Ended


Three Months Ended


Twelve Months Ended


October 31, 2018 (3)


October 31, 2019 (3)


 October 31, 2019 (3)


ASC 605


ASC 606


ASC 606

GAAP total operating income – as reported

$                              360.2


$                             129.7


$                              520.2

Other expenses managed at consolidated level






-Amortization of intangible assets

125.7


23.8


100.9

-Stock compensation

140.0


40.2


155.0

-Fair value changes in executive deferred compensation plan

4.6


2.6


27.8

-Acquisition-related costs

21.2


1.8


5.7

-Restructuring

12.9


13.4


47.2

-Legal matters

26.0


-


(18.0)

Total adjusted segment operating income

$                              690.7


211.5


$                          838.8


(1)     Synopsys manages the business on a long-term, annual basis, and considers quarterly fluctuations of revenue and profitability as normal elements of our business. Quarterly variability, which increases as a result of ASC 606, should be expected.

(2)     These segment results are consistent with the information required by ASC 280, Segment Reporting . They are presented to reflect the information that is considered by Synopsys' chief operating decision maker (CODM) to evaluate the operating performance of its segments. The CODM does not allocate certain operating expenses managed at a consolidated level to our reportable segments, and as a result, the reported operating income and operating margin do not include these unallocated expenses as shown in the table above. Amounts may not foot due to rounding.

(3)     Synopsys' fourth quarter of fiscal year 2019 ended on November 2, 2019, and its fiscal year 2018 ended on November 3, 2018. For presentation purposes, we refer to the closest calendar month end. The first quarter of fiscal 2018 included an extra week.


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Reviews:
Review Article
  • online works December 05, 2019
    Reviewed by 'Nelsonr Jeynolds'
    Synopsys likewise gives its combined budgetary focuses to the fourth quarter and full financial year 2019, which do exclude any effect of future obtaining related exercises or expenses.
    Thesis writing service

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