Business
Synopsys Posts Financial Results for Third Quarter Fiscal Year 2021
Q3 2021 Financial Highlights - Revenue: $1,057.1 million - GAAP earnings per share: $1.27 - Non-GAAP earnings per share: $1.81 MOUNTAIN VIEW, Calif., Aug. 18,
About this update from Synopsys, Inc.
[{"type":"text","content":"Q3 2021 Financial Highlights\n - Revenue: $1,057.1 million\n - GAAP earnings per share: $1.27\n - Non-GAAP earnings per share: $1.81\n\n\nMOUNTAIN VIEW, Calif., Aug. 18, 2021 /PRNewswire/ -- Synopsys, Inc. (Nasdaq: SNPS ) today reported results for its third quarter fiscal year 2021. Revenue for the third quarter was $1,057.1 million, compared to $964.1 million for the third quarter of fiscal 2020. \n\"Synopsys delivered excellent results in the fiscal third quarter, including record revenue and non-GAAP earnings, and we are substantially raising our fiscal 2021 targets. On a trailing-12-month basis, we surpassed the major milestone we set a few years ago: $4 billion in revenue and 30% non-GAAP operating margin.\" said Aart de Geus, chairman and co-CEO of Synopsys. \"Vibrant markets, unparalleled technology innovations, and strong execution position us to continue to increase shareholder value going forward. As we look to next year and beyond, we are aiming at crossing $5 billion in revenue by 2023, with double-digit annual revenue growth and continuing margin expansion.\"\nGAAP Results\nOn a generally accepted accounting principles (GAAP) basis, net income for the third quarter of fiscal 2021 was $198.6 million, or $1.27 per share, compared to $252.9 million, or $1.62 per share, for the third quarter of fiscal 2020. \nNon-GAAP Results\nOn a non-GAAP basis, net income for the third quarter of fiscal 2021 was $284.5 million, or $1.81 per share, compared to non-GAAP net income of $271.9 million, or $1.74 per share, for the third quarter of fiscal 2020. \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 fourth quarter and full fiscal year 2021. These financial targets assume that there are no further changes to the current U.S. government \"Entity...