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Synopsys profit misses consensus by 41.5% in fiscal Q1

Synopsys, Inc. said its normalized net income for the fiscal first quarter ended Jan. 31 amounted to 37 cents per share, compared with the S&P Capital IQ consensus estimate of 62 cents per share.

EPS rose 41.8% year over year from 26 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $57.5 million, a gain of 42.2% from $40.4 million in the prior-year period.

The normalized profit margin rose to 10.6% from 8.4% in the year-earlier period.

Total revenue climbed 13.2% year over year to $542.0 million from $479.0 million, and total operating expenses increased 8.7% on an annual basis to $455.2 million from $418.8 million.

Reported net income decreased year over year to $64.5 million, or 41 cents per share, from $67.4 million, or 43 cents per share.