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Synopsys profit misses consensus by 46.4% in fiscal Q2

Synopsys, Inc. said its normalized net income for the fiscal second quarter ended April 30 was 46 cents per share, compared with the S&P Capital IQ consensus estimate of 86 cents per share.

EPS rose 15.9% year over year from 40 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $71.2 million, a gain of 16.1% from $61.3 million in the prior-year period.

The normalized profit margin rose to 10.5% from 10.1% in the year-earlier period.

Total revenue rose 12.4% on an annual basis to $680.1 million from $605.0 million, and total operating expenses rose 11.1% from the prior-year period to $574.6 million from $517.3 million.

Reported net income fell 24.3% from the prior-year period to $52.7 million, or 34 cents per share, from $69.5 million, or 45 cents per share.