Business
Synopsys Posts Financial Results for First Quarter Fiscal Year 2020
Q1 2020 Financial Highlights - Revenue: $834.4 million - GAAP earnings per share: $0.67 - Non-GAAP earnings per share: $1.01 MOUNTAIN VIEW, Calif., Feb. 19,
About this update from Synopsys, Inc.
[{"type":"text","content":"Q1 2020 Financial Highlights\n - Revenue: $834.4 million\n - GAAP earnings per share: $0.67\n - Non-GAAP earnings per share: $1.01\n\n\nMOUNTAIN VIEW, Calif., Feb. 19, 2020 /PRNewswire/ -- Synopsys, Inc. (Nasdaq: SNPS) today reported results for its first quarter fiscal year 2020. Revenue for the first quarter was $834.4 million, compared to $820.4 million for the first quarter of fiscal 2019. \n\"Our first quarter was a strong start to fiscal year 2020. We delivered financial results at or above our guidance targets and are reaffirming our outlook for the year,\" said Aart de Geus, chairman and co-CEO of Synopsys. \"Even with caution around global markets, electronics companies continue to invest in critical chip and system designs, as well as substantially increasing amounts of sophisticated software. Synopsys is uniquely positioned to enable these designs from Silicon to Software. Our innovation engine is unrelenting, and this quarter we will be introducing a number of exciting new products and differentiating capabilities. We remain on-track towards our longer-term revenue and operating margin expansion targets.\"\nGAAP Results\nOn a generally accepted accounting principles (GAAP) basis, net income for the first quarter of fiscal 2020 was $104.1 million, or $0.67 per share, compared to $153.5 million, or $1.01 per share, for the first quarter of fiscal 2019. \nNon-GAAP Results\nOn a non-GAAP basis, net income for the first quarter of fiscal 2020 was $156.7 million, or $1.01 per share, compared to non-GAAP net income of $164.9 million, or $1.08 per share, for the first quarter of fiscal 2019. \nFor a reconciliation between GAAP and non-GAAP results, see \"GAAP to Non-GAAP Reconciliation\" and the accompanying tables below. \nBusiness Segments \nSynopsys 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.\nFinancial Targets \nSynopsys also provided its consolidated financial targets for the second quarter and full fiscal year 2020. These financial targets do not assume any revenue from com...